82,465
edits
Cross default: Difference between revisions
→{{isdaprov|Cross default}} in the {{isdama}}
Amwelladmin (talk | contribs) |
Amwelladmin (talk | contribs) |
||
| Line 34: | Line 34: | ||
Subsequent generations of derivative [[Mediocre lawyer|Lawyers]], being the creatures of habit they are — especially when sequestered into an [[ISDA working group]] — never thought to take it out, and even our artisanal coffee swilling {{2002ma}} boasts a tedious {{isdaprov|Cross Default}} provision, an embarrassing relic of its agricultural ancestry. It’s like that tattoo you got when you were a drunk 19 year old. Yes, you know the one. | Subsequent generations of derivative [[Mediocre lawyer|Lawyers]], being the creatures of habit they are — especially when sequestered into an [[ISDA working group]] — never thought to take it out, and even our artisanal coffee swilling {{2002ma}} boasts a tedious {{isdaprov|Cross Default}} provision, an embarrassing relic of its agricultural ancestry. It’s like that tattoo you got when you were a drunk 19 year old. Yes, you know the one. | ||
You see the thing is, for a [[master | You see the thing is, for a derivative [[master agreement]], [[cross default]] is a complete nonsense. | ||
A counterparty to an {{isdama}}, particularly one with a zero-threshold daily {{isdaprov|CSA}} and many {{isdaprov|transaction}}s under it, suffers none of those weaknesses it is designed for: | A counterparty to an {{isdama}}, particularly one with a zero-threshold daily {{isdaprov|CSA}} and many {{isdaprov|transaction}}s under it, suffers none of those weaknesses it is designed for: | ||