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Definitions and Inconsistency - VM CSA Provision: Difference between revisions
Definitions and Inconsistency - VM CSA Provision (view source)
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There is an interesting question as to what this might mean if your [[counterparty]] is also your banker, and you direct it to transfer [[credit support]] into the bank account you maintain with ''it'', meaning that legally the [[counterparty]] hasn’t done anything with the [[cash]] at all — not an unusual scenario, should you be a [[hedge fund]] and the [[counterparty]] your [[prime broker]] — but this will set your [[legal eagle]]s off again, and we don’t want that. We are just getting started. | There is an interesting question as to what this might mean if your [[counterparty]] is also your banker, and you direct it to transfer [[credit support]] into the bank account you maintain with ''it'', meaning that legally the [[counterparty]] hasn’t done anything with the [[cash]] at all — not an unusual scenario, should you be a [[hedge fund]] and the [[counterparty]] your [[prime broker]] — but this will set your [[legal eagle]]s off again, and we don’t want that. We are just getting started. | ||
Note that in the {{nyvmcsa}}, {{nyvmcsaprov|Transfer}} is separately defined, [[U.S. attorney]]s being the completists that they are. | Note that in the {{nyvmcsa}}, “{{nyvmcsaprov|Transfer}}” is separately defined, [[U.S. attorney]]s being the completists that they are. | ||
{{sa}} | {{sa}} | ||
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*[[Prime broker]] | *[[Prime broker]] | ||
*[[Throat-clearing]] | *[[Throat-clearing]] | ||
*“{{nyvmcsaprov|Transfer}}” under the {{nyvmcsa}} | |||