|
|
(7 intermediate revisions by the same user not shown) |
Line 1: |
Line 1: |
| Truly from the {{isia}} file — almost in the [[shoot me]] file. This whole game of pan-dimensional chess, with six different interest rates to apply in different circumstances, is all just to work out how to accrue interest on {{isdaprov|Unpaid Amount}}s and {{isdaprov|Early Termination Amount}}s when closing out. You get a strong sense that the pragmatists of {{icds}} — if there are any — had well and truly tuned out and gone to the bar by the the ’squad got to this definition. Looking on the bright side, ''at least it doesn’t mention [[LIBOR]]''.<ref>[[File:Dramatic Chipmunk.png|left|100|thumb|Did someone say [[LIBOR]]?}}</ref>
| | {{isda Applicable Close-out Rate summ|isdaprov}} |
| | |
| You have the {{isdaprov|Default Rate}}, the {{isdaprov|Non-default Rate}}, the {{isdaprov|Applicable Deferral Rate}}, and the {{isdaprov|Termination Rate}}. Depending on how and why you have closed out the {{2002ma}}, and whether you were at fault, a different rate will apply.
| |
| | |
| The four rates are:
| |
| *{{Nutshell 2002 ISDA Default Rate}}
| |
| *{{Nutshell 2002 ISDA Non-default Rate}}
| |
| *{{Nutshell 2002 ISDA Termination Rate}}
| |
| All sensible enough, if not a little over-determined — and then the ''three'' “'''{{isdaprov|Applicable Deferral Rate}}s'''”, which convert this from something that is merely [[tedious]] to the stuff of a [[Hieronymus Bosch nightmare]].
| |