Original Gangsta CSA

CSA Anatomy™ Go Premium The varieties of ISDA CSA Subject 1994 NY 1995 Eng 2016 VM NY 2016 VM Eng 2018 IM Eng Preamble Pre Pre Pre Pre Pre Interpretation 1 1 1 1 1 Security Interest 2 - 2 - 2 Credit Support Obligations 3 2 3 2 3 Transfers, Calculations and Exchanges - 3 - 3 - Conditions Precedent, Transfer Timing, Calculations and Substitutions 4 - 4 - 4 Dispute Resolution 5 4 5 4 5 Holding and Using Posted Collateral 6 - 6 - 6 Transfer of Title, No Security Interest - 5 - 5 - Events of Default 7 6 7 6 7 Rights and Remedies 8 - 8 - 7 Representations 9 7 9 7 9 Expenses 10 8 10 8 10 Miscellaneous 11 9 11 9 11 Definitions 12 10 12 10 12 Elections and Variables 13 11 13 11 13 Resources Full wikitext | Nutshell wikitext English Law | 1 Interpretation | 2 Credit Support Obligations | 3 Transfers, Calculations and Exchanges | 4 Dispute Resolution | 5 Transfer of Title, No Security Interest, Distributions and Interest Amount | 6 Default | 7 Representation | 8 Expenses | 9 Miscellaneous | 10 Definitions | 11 Elections and Variables · Base Currency and Eligible Currency · Credit Support Obligations · Valuation and Timing · Exchange Date · Dispute Resolution · Distributions and Interest Amount · Addresses for Transfers · Credit Support Offsets · Other CSA 2018 ISDA Credit Support Deed for Initial Margin Index: Click ᐅ to expand: CSA Comments? Questions? Suggestions? Requests? Insults? We’d love to 📧 hear from you. Sign up for our newsletter.

Just as there are ancient ISDAs and modern ISDAs, so too are there ancient CSAs — those pioneering, Devil-may-care documents dating from the last millennium, the 1994 NY CSA and 1995 CSA — and then the modern ones, the 2016 VM CSA, 2016 NY VM CSA and 2018 IM CSD. Exciting, right?

This is to the original credit support annexes of 1994 (New York law) and 1995 (English law) respectively, to distinguish them from the regulatory margin CSAs - the regulatory variation margin ones for each governing law, published in 2018, and the regulatory initial margin ones, both published in 2018.

So, in our CSA coverage, you may see occasional references to an “Ancient CSA” or the “OG” CSA or “Original Gangsta” CSA, to be contrasted with a “Modern CSA”. I don’t think there is such a thing as a “New and Improved Gangsta” so we will stick with Modern CSA.

This is mainly a weak joke and a lame appeal for street credibility on the part of the least hip person to walk the face of the earth, but it is actually useful as a label for the 1990s CSAs, so we will stick with it.

See also

• Credit support annex