Return Amount - NY CSA Provision
ISDA 1994 New York Law Credit Support Annex
A Jolly Contrarian owner’s manual™ Return Amount in a Nutshell™ Original text:
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Overview
The only differences here are the liberal, but all the same redundant, spraying of “(VM)” all over the shop in the 2016, a single reference to the Regular Settlement Day in place of the, er, regular Settlement Day and the fact that the balance is deducted from the Credit Support Balance in the 1995, but the Transferee’s Exposure in the 2016 (there not being a “Credit Support Amount” in the 2016), for reasons which are explored more fully below).
Summary
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- JC’s “nutshell” summary of the clause
- Background reading and long-form essays