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Template:Csa Delivery Amount comp: Difference between revisions
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Template:Csa Delivery Amount comp (view source)
Revision as of 15:32, 26 February 2021
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Now the interesting thing here is the difference that ''[[pledge|pledged]]'' collateral under the {{ny{{{1}}}}} makes over ''[[Title transfer|title-transferred]]'' collateral regime of the {{{{{1}}}}}. You will see the difference in the {{ny{{{1}}}}}’s {{ny{{{1}}}prov|Delivery Amount}}, which is the positive difference between {{ny{{{1}}}prov|Secured Party}}’s {{ny{{{1}}}prov|Exposure}} and the value of {{ny{{{1}}}prov|Posted Credit Support}} ''held by the {{ny{{{1}}}prov|Secured Party}}'' — easy, right? — and {{{{{1}}}}}’s equivalent provision which is the positive difference between the {{{{{1}}}prov|Transferee}}’s {{{{{1}}}prov|Exposure}} and the {{{{{1}}}prov|Credit Support Balance}} ''adjusted to exclude any inflight but unsettled collateral movements''. | Now the interesting thing here is the difference that ''[[pledge|pledged]]'' collateral under the {{ny{{{1}}}}} makes over ''[[Title transfer|title-transferred]]'' collateral regime of the {{{{{1}}}}}. You will see the difference in the {{ny{{{1}}}}}’s {{ny{{{1}}}prov|Delivery Amount}}, which is the positive difference between {{ny{{{1}}}prov|Secured Party}}’s {{ny{{{1}}}prov|Exposure}} and the value of {{ny{{{1}}}prov|Posted Credit Support}} ''held by the {{ny{{{1}}}prov|Secured Party}}'' — easy, right? — and {{{{{1}}}}}’s equivalent provision which is the positive difference between the {{{{{1}}}prov|Transferee}}’s {{{{{1}}}prov|Exposure}} and the {{{{{1}}}prov|Credit Support Balance}} ''adjusted to exclude any inflight but unsettled collateral movements''. | ||
The {{{{{1}}}}} is a bit more leaden in how it describes things but these amount to the same thing: you don’t get any credit (support) for collateral ''until it has landed with the other party''. This creates some curious scenarios, as you will see if you read on. | The {{{{{1}}}}} is a bit more leaden in how it describes things but these amount to the same thing: you don’t get any credit (support) for collateral ''until it has landed with the other party''. This creates some curious scenarios, as you will see if you read on. <small>{{ny{{{1}}}|2(a)}} — {{ny{{{1}}}|2(a)}}</small> | ||