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This may have been based on a misapprehension that “Equivalent Credit Support” is already intended to allow redelivery of non-fungible securities of a similar type, and the modification is only clarificatory. | This may have been based on a misapprehension that “Equivalent Credit Support” is already intended to allow redelivery of non-fungible securities of a similar type, and the modification is only clarificatory. | ||
There may be a need for the “similar securities” concept in the [[OTC | There may be a need for the “similar securities” concept in the [[OTC to CCP]] space, but we should call it something else – perhaps “Similar Credit Support” – to differentiate it from “Equivalent Credit Support” which is still needed in the CSA to support the title transfer analysis. | ||
{{csaprov}} | {{csaprov}} |