Credit Support Document - ISDA Provision: Difference between revisions

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{{fullanat|isda|Credit Support Document |2002}}
{{isdamanual|Credit Support Document}}
Being the document by which {{isdaprov|Credit Support}} is provided by a {{isdaprov|Credit Support Provider}}.
===The {{csa}} is ''not'' a Credit Support Document===
Note that a {{tag|CSA}} is '''not''' a {{isdaprov|Credit Support Document}}, and you should not list it as one in {{isdaprov|Part 4}} of the {{isdaprov|Schedule}}, however satisfying it might be to do so. I mean it sounds like one, right? But no: the counterparty cannot be its own {{isdaprov|Credit Support Provider}}. The {{csa}} is, rather, a {{isdaprov|Transaction}} under the {{isdama}}. This is rather important to the whole issue of [[close-out netting]]. Deep [[ISDA lore]].
 
===[[Guarantees]] under the {{isdama}}: why {{isdaprov|Transaction}}-specific {{isdaprov|guarantee}}s don't work===
{{isdaguaranteewarning}}
 
{{ref}}

Latest revision as of 10:38, 24 May 2023

2002 ISDA Master Agreement

A Jolly Contrarian owner’s manual™

Credit Support Document 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.

Credit Support Document in all its glory

“Credit Support Document” means any agreement or instrument that is specified as such in this Agreement.

Related agreements and comparisons

Click here for the text of Section Credit Support Document in the 1992 ISDA
Click to compare this section in the 1992 ISDA and 2002 ISDA.

Resources and Navigation

This provision in the 1992

Resources Wikitext | Nutshell wikitext | 1992 ISDA wikitext | 2002 vs 1992 Showdown | 2006 ISDA Definitions | 2008 ISDA | JC’s ISDA code project
Navigation Preamble | 1 • (a) (b) (c) | 2 • (a) (b) (c) (d) | 3 • (a) (b) (c) (d) (e) (f) (g) | 4 • (a) (b) (c) (d) (e) | 5 • 5(a) Events of Default: 5(a)(i) Failure to Pay or Deliver 5(a)(ii) Breach of Agreement 5(a)(iii) Credit Support Default 5(a)(iv) Misrepresentation 5(a)(v) Default Under Specified Transaction 5(a)(vi) Cross Default 5(a)(vii) Bankruptcy 5(a)(viii) Merger Without Assumption 5(b) Termination Events: 5(b)(i) Illegality 5(b)(ii) Force Majeure Event 5(b)(iii) Tax Event 5(b)(iv) Tax Event Upon Merger 5(b)(v) Credit Event Upon Merger 5(b)(vi) Additional Termination Event (c) (d) (e) | 6 • (a) (b) (c) (d) (e) (f) | 7 | 8 • (a) (b) (c) (d) | 9 • (a) (b) (c) (d) (e) (f) (g) (h) | 10 | 11 | 12 • (a) (b) | 13 • (a) (b) (c) (d) | 14 |

Index: Click ᐅ to expand:
2002 ISDA
1992 ISDA

Overview

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No changes between the versions of this rather unnecessary definition. The men and women of ISDA’s crack drafting squad™ must have stood back and admired the handiwork of their 1992 forebears, high-fived each other and gone, “nice job, dudes and dudettes”.

Summary

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Being the document by which Credit Support is provided by a Credit Support Provider.

Premium content

Here the free bit runs out. Subscribers click 👉 here. New readers sign up 👉 here and, for ½ a weekly 🍺 go full ninja about all these juicy topics 👇
  • The JC’s famous Nutshell™ summary of this clause
  • Is the English law CSA a Credit Support Document, and if not why not?
  • Is the New York law CSA a Credit Support Document, and if so, why AND SERIOUSLY HOW CAN THEY BE DIFFERENT?
  • Hang on does the English Law Credit Support Deed have a different “Credit Support Document” status to an English Law Credit Support Annex? WHAT?

So much ninjery.

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See also

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References

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