Interest Amount - CSA Provision: Difference between revisions
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
Line 2: | Line 2: | ||
*the (rather tedious) expression “... on the principal amount of the portion of the {{csaprov|Credit Support Balance}}” amount has been massaged to the slightly more elegant “...on the portion of the {{csaprov|Credit Support Balance}}”, although you’d have to say this is mostly likely to be a drafting error rather than some kind of late-life Damascene conversion in {{tag|ISDA}}'s part to the merits of {{tag|plain English}}; | *the (rather tedious) expression “... on the principal amount of the portion of the {{csaprov|Credit Support Balance}}” amount has been massaged to the slightly more elegant “...on the portion of the {{csaprov|Credit Support Balance}}”, although you’d have to say this is mostly likely to be a drafting error rather than some kind of late-life Damascene conversion in {{tag|ISDA}}'s part to the merits of {{tag|plain English}}; | ||
*the last paragraph contemplates currencies other than [[sterling]] having an [[Act/365]] [[day count fraction]]; | *the last paragraph contemplates currencies other than [[sterling]] having an [[Act/365]] [[day count fraction]]; | ||
*The | *The {{csaprov|Negative Interest}} guff. |
Revision as of 16:00, 17 January 2017
CSA Anatomy™
(View Template)
provided that, unless “Negative Interest” is specified as applicable in Paragraph 11(g)(iii), if the Interest Amount (VM) for an Interest Period would be a negative amount, it will be deemed to be zero.
|
The sole observable changes between the 1995 CSA and the 2016 VM CSA are, as best as this poor boy can fathom, these:
- the (rather tedious) expression “... on the principal amount of the portion of the Credit Support Balance” amount has been massaged to the slightly more elegant “...on the portion of the Credit Support Balance”, although you’d have to say this is mostly likely to be a drafting error rather than some kind of late-life Damascene conversion in ISDA's part to the merits of plain English;
- the last paragraph contemplates currencies other than sterling having an Act/365 day count fraction;
- The Negative Interest guff.