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Template:Csa Rights and Remedies comp: Difference between revisions
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The {{1994csa}} and {{2016nycsa}} versions, both being under New York law and of broadly the same intent, barring the scattering of (VM)s all over the shop, are predictably similar, with one difference: the {{2016nycsa}} contemplates the interplay of a regulatory margin VM CSA with any other CSA for non-regulated business, so has to deal with “any Cash amounts and the Cash equivalent of any non-Cash items posted to the Pledgor by the Secured Party as margin under any Other CSA (other than any Other CSA Excluded Credit Support)”. See this {{diff|85368|85364}}. | '''{{capitalise|{{sicsa}}s}}''': The {{1994csa}} and {{2016nycsa}} versions, both being under New York law and of broadly the same intent, barring the scattering of (VM)s all over the shop, are predictably similar, with one difference: the {{2016nycsa}} contemplates the interplay of a regulatory margin VM CSA with any other CSA for non-regulated business, so has to deal with “any Cash amounts and the Cash equivalent of any non-Cash items posted to the Pledgor by the Secured Party as margin under any Other CSA (other than any Other CSA Excluded Credit Support)”. See this {{diff|85368|85364}}. | ||
The {{imcsd}}, being under English law with all its own peculiarities about taking security, and also not really contemplating [[rehypothecation]] and that strikes against the heart and soul of regulatory IM, is quite different. | '''{{capitalise|{{ttcsa}}s}}''': There is no “Certain rights and Remedies” clause under either of the {{ttcsa}}s, so any stray references to them redirect to their {{sicsa}} equivalents | ||
'''IM CSD''': The {{imcsd}}, being under English law with all its own peculiarities about taking security, and also not really contemplating [[rehypothecation]] and that strikes against the heart and soul of regulatory IM, is quite different. | |||