1985 ISDA Code of Standard Wording, Assumptions and Provisions for Swaps: Difference between revisions

← Older edit

1985 ISDA Code of Standard Wording, Assumptions and Provisions for Swaps (view source)

Revision as of 15:54, 2 February 2024

1,272 bytes added , 2 February

no edit summary

Amwelladmin

Bureaucrats, Interface administrators, Administrators

82,891

edits

@@ Line 2: / Line 2: @@
 <big><big><big>Code of
+------
 :Standard
 :Wording,
@@ Line 7: / Line 8: @@
 :Provisions for
 :Swaps
+------
 Edition</big></big></big>
-— I mean check that baby out did you see what they ''did'' there??? It's a goddamn ''[[acrostic]]''!
+I mean check that baby out; did you see what they ''did'' there??? It's a goddamn ''[[acrostic]]''! Whoever heard of ''playfulness'' in the documentation of derivatives? The {{1985ma}} is the first ever attempt, by the [[Children of the Woods]], progenitors of the [[First Men]], those valiant but somehow feral predecessors to the latter-day crusading knights of {{icds}}, to make flesh and blood the idea of an ''{{isdama}}''.
+And we know, from that telltale acrostic, that these were not the humdrum, process-oriented, detail-obsessed boxwallahs who now run ISDA. These were capricious, flipsy, okay maybe a bit ''bookish'' rebels, drunk on the excitement of [[contracts for difference]], standing on the threshold of a brave new adventure. If only they could have seen where it would all end out.
+For all its paleontological significance the {{1985ma}} is a barebones thing indeed: Events of Default and Termination Events are there ... ''none''. Parties had to put them in the confirmation. Even failure to pay.
+So, no [[netting]], no [[single agreement]] — which kind of figures, since [[Basel Committee on Bank Supervision|BCB]] only hit on the idea of granting capital relief for netting arrangements in 1986 — no Section {{isdaprov|2(a)(iii)}} —
+{{sa}}
+*{{isdama}} and all its variations
+:*{{1987ma}}
+:*{{1992ma}}
+:*{{2002ma}}
+:*{{2008ma}}