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VM CSA Anatomy: Difference between revisions
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The 2016 {{tag|CSA}} generated at great expense by {{tag|ISDA}} to deal with all the regulatory obligations to post and collect [[variation margin]] that have popped up around the world, like so many stable doors boinking emptily against their jambs while the ponies of financial ruin career wildly through the meadows of propriety. | The 2016 {{tag|CSA}} generated at great expense by {{tag|ISDA}} to deal with all the regulatory obligations to post and collect [[variation margin]] that have popped up around the world, like so many stable doors boinking emptily against their jambs while the ponies of financial ruin career wildly through the meadows of propriety. | ||
Part of the industry was to remove Independent amounts - it seeming like they struck rather at the heart of the regulatory aspiration, namely to collateralise [[mark-to-market]] exposures. But then everyone decided they quite liked their initial margin, as long as it wasn't *too* much. So ISDA prepared a version with Independent amounts as well. Then they decided not to publish it. All this during the crescendo to a full-bore bunfight papering all ones clients as a “seemingly immutable”<ref>We’ll see</ref> deadline stood menacingly like an unforgiving concrete wall to the sideways-sliding Morris Minor of the world’s derivatives documentation capacity. | |||
{{2016 VM CSA TOC}} | {{2016 VM CSA TOC}} | ||
{{anat|csa}} | {{anat|csa}} | ||
{{ref}} | |||