Other Interest Elections - VM CSA Provision

From The Jolly Contrarian
Jump to navigation Jump to search

2016 ISDA Credit Support Annex (VM) (English law)
A Jolly Contrarian owner’s manual

Paragraph 11(g)(iii) in a Nutshell
Use at your own risk, campers!

Template:Nutshell 2016 CSA 11(g)(iii) view template

Paragraph 11(g)(iii) in full

11(g) Distributions and Interest Amount (VM)

(i) Interest Rate (VM). The “Interest Rate (VM)” in relation to each Eligible Currency specified above will be [SPECIFY].
(ii) Transfer of Interest Payment (VM) or application of Interest Amount (VM).
Interest Transfer: [Applies/does not apply].
Interest Payment Netting: [Applies/does not apply].
Interest Adjustment: [Applies/does not apply].
For the purposes of Paragraph 5(c)(ii)(B), the Credit Support Balance (VM) will be adjusted by the Transferee on or prior to the third Local Business Day of the following calendar month.
(iii) Other Interest Elections.
Negative Interest: [Applies/does not apply].
Daily Interest Compounding: [Applies/does not apply].
(iv) Alternative to Interest Amount (VM). The provisions of Paragraph 5(c)(ii) will apply.

view template

Related agreements and comparisons

Related Agreements
Click here for the text of Section 11(g)(iii) in the 1995 English Law CSA
Click here for the text of Section 13(i)(iii) in the 1994 New York law CSA
Click here for the text of Section 13(i)(iii) in the 2016 New York law CSA
Click here for the text of Section 13(i)(iii) in the 2018 ISDA Credit Support Deed for IM
Comparisons
Template:2nycsadiff 13(i)(iii)
Template:Nycsadiff 13(i)(iii)
Template:Csadiff 11(g)(iii)

Resources and navigation

Resources Full wikitext | Nutshell wikitext
Navigation 1 (Interpretation) | 2 (Credit Support Obligations) | 3 (Transfers, Calculations and Exchanges) | 4 (Dispute Resolution) | 5 (Title Transfer etc) | 6 (Default) | 7 (Representation) | 8 (Expenses) | 9 (Miscellaneous) | 10 (Definitions) | 11 (Elections and Variables)

Index — Click ᐅ to expand:

Get in touch
Comments? Questions? Suggestions? Requests? Sign up for our newsletter? Questions? We’d love to hear from you.
BREAKING: Get the new weekly newsletter here Old editions here

Content and comparisons

Template:M comp disc 2016 CSA 11(g)(iii)
Template

Summary

You can have all kinds of conceptual fun and games — all to no real practical end — if Negative Interest applies, because the Interest Payer VM in that case might be the Transferor or the Transferee, depending on the currency.
Template

See also

Template:M sa 2016 CSA 11(g)(iii)
Template

References