Template:Exposure under csa: Difference between revisions

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 There aren’t really likely, in peacetime, to be {{isdaprov|Unpaid Amounts}} loafing about — an amount that you are due to pay ''today'' or ''tomorrow'' wouldn’t, ''yet'', qualify as “unpaid”, but would be factored into the {{isdaprov|Close-out Amount}} calculation.
-There is a little bit of a dissonance here, since “{{{{{1}}}|Exposure}}” is a snapshot calculation that treats all future cashflows, whether due in a day, a month or a year from today, the same way: it discounts them back to today, adds them up and sets them off. Your {{imcsdprov|Delivery Amount}} or {{imcsdprov|Return Amount}}, [[as the case may be]], is just the difference between that Exposure and whatever the existing {{{{{1}}}|Credit Support Balance}} is. The [[future]] is the future: unknowable, unpredictable, but ''discountable'', whether it happens in a day or a thousand years.
+There is a little bit of a dissonance here, since “{{{{{1}}}|Exposure}}” is a snapshot calculation that treats all future cashflows, whether due in a day, a month or a year from today, the same way: it discounts them back to today, adds them up and sets them off. Your {{vmcsaprov|Delivery Amount}} or {{vmcsaprov|Return Amount}}, [[as the case may be]], is just the difference between that Exposure and whatever the existing {{{{{1}}}|Credit Support Balance}} is. The [[future]] is the future: unknowable, unpredictable, but ''discountable'', whether it happens in a day or a thousand years.
 All the same, this ''can'' seem kind of weird when your CSA ''you'' have to pay ''him'' an amount today when ''he'' owes ''you'' an even bigger amount tomorrow. It’s like, “hang on: why am I paying you margin when, tomorrow, ''you'' are going to be in the hole to ''me''? Like, by ''double'', if I pay you this margin and you fail to me tomorrow.”