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2018 ISDA Credit Support Deed (IM) (English law)
A Jolly Contrarian owner’s manual™
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Paragraph Value in a Nutshell™
Use at your own risk, campers!
Full text of Paragraph Value
“ Value” means, unless otherwise specified in Paragraph 13, for any Calculation Date (IM) or other date for which Value is calculated and subject to Paragraph 5 in the case of a dispute, with respect to:
- (i) save as provided in clause (ii) below, Eligible Credit Support (IM) comprised in the Posted Credit Support (IM):
- (A) an amount of Cash, the Base Currency Equivalent of such amount multiplied by (VP – HFX); and
- (B) a security, the Base Currency Equivalent of the bid price obtained by the Calculation Agent (IM) multiplied by (VP – HFX):
- where:
- VP equals the applicable Valuation Percentage; and
- HFX equals the applicable FX Haircut Percentage,
- provided that, for the purposes of calculating Value under Paragraph 11(a), the VP will be 100% and HFX will be zero; and
- (ii) Posted Credit Support (IM) that consists of items that are, in respect of the relevant posting obligation, deemed as of such date to have a Value of zero pursuant to Paragraph 13, zero.
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Related agreements and comparisons
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Content and comparisons
Template:M comp disc 2018 CSD Value
Summary
Template:M summ 2018 CSD Value
See also
Template:M sa 2018 CSD Value
References