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Termination Currency - ISDA Provision: Difference between revisions
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Termination Currency - ISDA Provision (view source)
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{{fullanat2|isda|Termination Currency|2002|Termination Currency|1992}} | {{fullanat2|isda|Termination Currency|2002|Termination Currency|1992}} | ||
{{Comm}} | {{Comm}} | ||
Compare and contrast with the Base Currency in the CSA. Ideally, you’d want them to be the same. | Compare and contrast with the {{csaprov|Base Currency}} in the {{tag|CSA}}. Ideally, you’d want them to be the same. | ||
Note that the {{2002ma}} defaults to | |||
Note that the {{2002ma}} defaults to EUR or USD (depending on governing law) where not otherwise specified. This means a 2002 version {{tag|LFC}} does not need to specify a {{isdaprov|Termination Currency}}. Not that you’d ever use a [[long form confirmation]], of course. | |||
The {{isdaprov|Termination Currency}} concept can be applied to the termination and closeout of single {{isdaprov|Transaction}}s or groups of {{isdaprov|Transaction}}s, so it does make sense for it to be "a currency in which payments are due to be made under the relevant {{isdaprov|Terminated Transaction}}" - or some such thing. | The {{isdaprov|Termination Currency}} concept can be applied to the termination and closeout of single {{isdaprov|Transaction}}s or groups of {{isdaprov|Transaction}}s, so it does make sense for it to be "a currency in which payments are due to be made under the relevant {{isdaprov|Terminated Transaction}}" - or some such thing. | ||