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Title transfer: Difference between revisions
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One merchant selling (or giving) something outright to another, the first thereby abandoning all its claim, interest and colour of right whatsoever to that thing. To be contrasted with a [[pledge]] or an [[assignment by way of security]]. | |||
==={{csa}}=== | ==={{csa}}=== | ||
The title transfer {{1995csa}} is carefully designed to create a [[true sale]] (hence references to redelivery of “{{csaprov|Equivalent Credit Support}}” and not just return of posted assets). Modifications to the CSA (even by side letter or other agreement) which allow any counterparty to retain control over the {{csaprov|Credit Support Balance}} held by the other party may prejudice the [[true sale]] analysis. This is what is fondly known as a [[title transfer collateral arrangement]], about which disclosure is required thanks to Article 15 of that most excellent piece of EU doggerel, the [[Securities Financing Transactions Regulation]]. | The title transfer {{1995csa}} is carefully designed to create a [[true sale]] (hence references to redelivery of “{{csaprov|Equivalent Credit Support}}” and not just return of posted assets). Modifications to the CSA (even by side letter or other agreement) which allow any counterparty to retain control over the {{csaprov|Credit Support Balance}} held by the other party may prejudice the [[true sale]] analysis. This is what is fondly known as a [[title transfer collateral arrangement]], about which disclosure is required thanks to Article 15 of that most excellent piece of EU doggerel, the [[Securities Financing Transactions Regulation]]. | ||