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Exchanges - CSA Provision: Difference between revisions
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Amwelladmin (talk | contribs) m (Text replace - "{{csaanatomy}}" to "{{anat|csa}}") |
Amwelladmin (talk | contribs) No edit summary |
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{{ | {{fullanat|csa|3(c)|1995}} | ||
====Commentary==== | ====Commentary==== | ||
Note here the {{csaprov|Transferor}} can ask for an exchange, but the {{csaprov|Transferee}} is not obliged to accept it. This is a fundamental provision of "title transfer" - once the {{csaprov|Eligible Credit Support}} is delivered under a {{1995csa}}, it is owned absolutely by the {{csaprov|Transferee}}, subject only to an obligation to return {{csaprov|Equivalent Credit Support}}. | Note here the {{csaprov|Transferor}} can ask for an exchange, but the {{csaprov|Transferee}} is not obliged to accept it. This is a fundamental provision of "title transfer" - once the {{csaprov|Eligible Credit Support}} is delivered under a {{1995csa}}, it is owned absolutely by the {{csaprov|Transferee}}, subject only to an obligation to return {{csaprov|Equivalent Credit Support}}. | ||
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'''Return Amounts''': A {{csaprov|Transferee}} does have a (limited) option in terms of selecting the Return Amount should there be a requirement to return posted credit support - it can select the cheapest to deliver of all the {{csaprov|Eligible Credit Support}} that has been posted to it which currently comprises its {{csaprov|Credit Support Balance}}. | '''Return Amounts''': A {{csaprov|Transferee}} does have a (limited) option in terms of selecting the Return Amount should there be a requirement to return posted credit support - it can select the cheapest to deliver of all the {{csaprov|Eligible Credit Support}} that has been posted to it which currently comprises its {{csaprov|Credit Support Balance}}. | ||