Reference Basis - DRV-F Provision

DRV for Derivatives and Futures Anatomy™ This is an informal, non-binding and, by the looks, not massively idiomatic translation of the Deutscher Rahmenvertrag für Finanztermingeschäfte. So treat it, and the JC's summary of and uninformed musings about it, with even more caution than normal. →Go uptown In a Nutshell™ Clause 5: Template:Nutshell DRVF 5 view template DRV for Derivatives and Futures full text of Clause 5: 5 Reference Basis 5(1) Where a floating interest rate, exchange rate, price or other calculation basis (Floating Basis) has been agreed in respect of a Transaction, the Bank shall notify the Counterparty of the underlying reference basis on the day such Floating Basis is to be determined (Calculation Date) or promptly thereafter. 5(2) If, on a Calculation Date, it is not possible to determine the reference basis agreed in respect of the relevant Transaction, the parties shall determine such reference basis by using a basis of calculation which is as close as possible, to the one agreed with respect to the relevant Transaction. If the reference basis is an interbank interest rate which cannot be determined by mutual agreement within 20 days, the reference basis shall be the arithmetic mean of the interest rates which two banks of international reputation, selected by the Bank offer time deposits in the contractual currency with equivalent maturities to prime banks in the interbank market for about the same amounts as the notional amount at about 11.00 a. m. (local time of the relevant interbank market) on the Calculation Date. 5(3) An interest rate used as a reference basis (Base Rate) shall, if necessary, be rounded up to the nearest multiple of one hundred-thousandth of a percentage point. view template DRV-F · (wikitext) · (nutshell wikitext) Navigation: Table of contents | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 (being the Elections) Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.