Credit Support Document - ISDA Provision: Difference between revisions

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{{isdaanat|Credit Support Document }}
{{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]].
 
===... But the {{nycsa}} ''is'' a Credit Support Document===
Because it is a {{sfca}} arrangement and not a {{ttca}}, transfer of credit support under a {{nycsa}} does not change the net liabilities between the parties, the {{nycsa}} (and its regulatory VM successor, the {{nyvmcsa}} is a {{isdaprov|Credit Support Document}} and not a transaction under the {{isdama}}. Fun, huh?
 
===[[Guarantees]] under the {{isdama}}: why {{isdaprov|Transaction}}-specific {{isdaprov|guarantee}}s don't work===
{{isdaguaranteewarning}}
{{ref}}