ISDA netting categories: Difference between revisions

ISDA netting categories (view source)

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Bureaucrats, Interface administrators, Administrators

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-*'''[[Bank/Credit Institution]]''': {{bankcreditinstitution}} A legal entity, which may be organized as a corporation, partnership or in some other form, that conducts commercial banking activities, that is, whose core business typically involves (a) taking deposits from private individuals and/or corporate entities and (b) making loans to private individual and/or corporate borrowers. This type of entity is sometimes referred to as a "commercial bank" or, if its business also includes investment banking and trading activities, a "universal bank". (If the entity only conducts investment banking and trading activities, then it falls within the "Investment Firm/Broker Dealer" category below.) This type of entity is referred to as a "credit institution" in European Community (EC) legislation. This category may include specialised types of bank, such as a mortgage savings bank (provided that the relevant entity accepts deposits and makes loans), or such an entity may be considered in the local jurisdiction to constitute a separate category of legal entity (as in the case of a building society in the United Kingdom (UK). <br>
+*'''[[Bank/Credit Institution]]''': {{bankcreditinstitution}}
 *'''[[Central Bank]]''': {{centralbank}} A legal entity that performs the function of a central bank for a [[Sovereign]] or for an area of monetary union (as in the case of the European Central Bank in respect of the euro zone). <br>
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 *'''[[Local Authority]]. {{localauthority}} A legal entity established to No administer the functions of local government in a particular region within a Sovereign or State of a Federal Sovereign, for example, a city, county, borough or similar area.
-Partnership. A legal entity or form of arrangement No without legal personality that is (a) organised as a general, limited or some other form of partnership and (b) does not fall within one of the other categories in this Appendix B. If it does not have legal personality, it may nonetheless be treated as though it were a legal person for certain purposes (for example, for insolvency purposes) and not for other purposes (for example, tax or personal liability). <br>
+*'''[[Partnership]]''': {{partnership}} A legal entity or form of arrangement No without legal personality that is (a) organised as a general, limited or some other form of partnership and (b) does not fall within one of the other categories in this Appendix B. If it does not have legal personality, it may nonetheless be treated as though it were a legal person for certain purposes (for example, for insolvency purposes) and not for other purposes (for example, tax or personal liability). <br>
 *'''[[Pension Fund]]''': {{pensionfund}} A legal entity or an arrangement No without legal personality (for example, a common law trust) established to provide pension benefits to a specific class of beneficiaries, normally sponsored by an employer or group of employers. It is typically administered by one or more persons (who may be private individuals and/or corporate entities) who have various rights and obligations governed by pensions legislation. Where the arrangement does not have separate legal personality, one or more representatives of the Pension Fund (for example, a trustee of a pension scheme in the form of a common law trust) contract on behalf of the Pension Fund and are owed the rights and owe the obligations provided for in the contract and are entitled to be indemnified out of the assets comprised in the arrangement.<br>