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Amwelladmin (talk | contribs) (Created page with "{{ietacomp}} The odd thing is that while the Suspension Events are virtually identical between the {{ietama}} and {{emissionsannex}}, their Settlement Disruption Event regimes could hardly be more different — in that the ISDA annex has one, and the IETA doesn’t. ===Process=== Governed by Clause 13.4:<br> (a) Affected party gives notice. <br> (b) Obligations are suspended until the relevant piece of infrastructure is functioning again, after which there is a 10 {{ieta...") |
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The odd thing is that while the Suspension Events are virtually identical between the {{ietama}} and {{emissionsannex}}, their Settlement Disruption Event regimes could hardly be more different — in that the ISDA annex has one, and the IETA doesn’t. | The odd thing is that while the Suspension Events are virtually identical between the {{ietama}} and {{emissionsannex}}, their Settlement Disruption Event regimes could hardly be more different — in that the ISDA annex has one, and the IETA doesn’t. | ||
===Process=== | ===Process=== | ||
Governed by Clause 13.4:<br> | Governed by Clause {{ietaprov|13.4}}:<br> | ||
(a) Affected party gives notice. <br> | (a) Affected party gives notice. <br> | ||
(b) Obligations are suspended until the relevant piece of infrastructure is functioning again, after which there is a 10 {{ietaprov|Delivery Banking Day}}s [[grace period]] — which seems rather long, truth be known, but is truncated to 3 business days before any intervening {{ | (b) Obligations are suspended until the relevant piece of infrastructure is functioning again, after which there is a 10 {{ietaprov|Delivery Banking Day}}s [[grace period]] — which seems rather long, truth be known, but is truncated to 3 business days before any intervening {{ietaprov|End of Validity Period Reconciliation Deadline}} — to resume <br> | ||
(c) There is a Cost of Carry adjustment reflecting the delay to the scheduled delivery date | (c) There is a {{ietaprov|Cost of Carry Amount}} adjustment reflecting the delay to the scheduled delivery date. | ||
(d) If you are suspended past the Long Stop Date — as for the {{emissionsannex}}, and arbitrary set of dates two or more years after the originally scheduled delivery dates — you put a line through the trade, but | (d) If you are suspended past the {{ietaprov|Long Stop Date}} — as for the {{emissionsannex}}, and arbitrary set of dates two or more years after the originally scheduled delivery dates — you put a line through whatever obligations are left of the trade, but don’t have to return amounts or deliveries already made (to say nothing of collateral — though possibly the return of collateral is implied by the revaluation of the net exposure under the {{ietama}}. Or might have been, were there a collateral annex to the {{ietama}}. <br> | ||
===And then I woke up ... ?=== | |||
And it was all a dream, yes. See the premium section. |