Business Day - 2021 ISDA Definition

2021 ISDA Interest Rate Derivatives Definitions

A Jolly Contrarian owner’s manual™

2.1.1 in a Nutshell™

The JC’s Nutshell™ summary of this term has moved uptown to the subscription-only ninja tier. For the cost of ½ a weekly 🍺 you can get it here. Sign up at Substack.

2.1.1 in all its glory

Business Day. “Business Day” means: (i) a day on which commercial banks and foreign exchange markets are open for general business (including settling payments and dealings in foreign exchange and foreign currency deposits) in the place(s) specified for that purpose in the Confirmation or in the 2021 Definitions; and (ii) a day specified for that purpose in the Confirmation, which may be by reference to any of the defined purposes set out in Section 2.1.5 (TARGET Settlement Day) to Section 2.1.10 (Abu Dhabi Days) or otherwise; and (iii) if place(s) and days, or such terms, are not specified, a Currency Business Day. edit