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| {{fullanatopen|csa|{{ISDA English Law Credit Support Annex 2016 FX Haircut Percentage}}<br><small>[[Template:ISDA English Law Credit Support Annex 2016 FX Haircut Percentage|view template]]</small><br> | | {{vmcsaspecific}} |
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| {{ISDA English Law Credit Support Annex 2016 11(c)(v)}}<br>
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| <small>[[Template:ISDA English Law Credit Support Annex 2016 11(c)(v)|view template]]</small><br>
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| }}
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| An observation one might make here is that if you have a cash-only {{csa}} and as long as you only accept the Major Currencies, then this entire Rube Goldberg provision is unnecessary: The Valuation Percentage will (most likely) be 100%, the FX Haircut Percentage will be zero, so the definition of value that these definitions feed into amounts to the following:
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| :The amount (call it ''n'') ''multiplied by'' the sum of 100% ''minus'' zero%, ''or''
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| :''n'' * (100% - 0%), ''or''
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| :''n'' * 100%, ''or''
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| :''n''.
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| Sigh.
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