Credit Support Balance - CSA Provision: Difference between revisions
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Note that {{csaprov|Interest Amount}}s and {{csaprov|Distributions}}, so long as (i) they are held by the {{csaprov|Transferee}} and not returned to the {{csaprov|Transferor}} and (ii) they themselves are {{csaprov|Eligible Credit Support}}, count towards the {{csaprov|Credit Support Balance}}. Needless to say, if they are not themselves {{csaprov|Eligible Credit Support}} (they will often be in the form of cash, so often(but not necessarily) will be), they aren't counted (but represent an amount due by {{csaprov|Transferee}} to {{csaprov|Transferor}} which would amount to {{isdaprov|Unpaid Amounts}} on an {{isdaprov|Event of Default}} etc, and for which {{csaprov|Transferor}} would be an unsecured creditor. | Note that {{csaprov|Interest Amount}}s and {{csaprov|Distributions}}, so long as (i) they are held by the {{csaprov|Transferee}} and not returned to the {{csaprov|Transferor}} and (ii) they themselves are {{csaprov|Eligible Credit Support}}, count towards the {{csaprov|Credit Support Balance}}. Needless to say, if they are not themselves {{csaprov|Eligible Credit Support}} (they will often be in the form of cash, so often(but not necessarily) will be), they aren't counted (but represent an amount due by {{csaprov|Transferee}} to {{csaprov|Transferor}} which would amount to {{isdaprov|Unpaid Amounts}} on an {{isdaprov|Event of Default}} etc, and for which {{csaprov|Transferor}} would be an unsecured creditor. | ||
Note, per the definition of {{csaprov|Value}}, | Note, per the definition of {{csaprov|Value}}, “items that are comprised in a {{csaprov|Credit Support Balance}} and are not {{csaprov|Eligible Credit Support}}” are valued at zero. | ||
{{anat|csa}} | {{anat|csa}} | ||
Revision as of 17:12, 15 November 2016
Template:ISDA English Law Credit Support Annex Credit Support Balance (VM) Credit Support Balance
(View Template)
Commentary
Note that Interest Amounts and Distributions, so long as (i) they are held by the Transferee and not returned to the Transferor and (ii) they themselves are Eligible Credit Support, count towards the Credit Support Balance. Needless to say, if they are not themselves Eligible Credit Support (they will often be in the form of cash, so often(but not necessarily) will be), they aren't counted (but represent an amount due by Transferee to Transferor which would amount to Unpaid Amounts on an Event of Default etc, and for which Transferor would be an unsecured creditor.
Note, per the definition of Value, “items that are comprised in a Credit Support Balance and are not Eligible Credit Support” are valued at zero.
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CSA Anatomy™
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