Template:Cross default in securities financing agreements: Difference between revisions

Template:Cross default in securities financing agreements (view source)

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 [[SFT - SFTR Provision|SFTRs]] are collateralised daily, so:
-*Neither party has material exposure<ref>Okay, okay, a {{gmslaprov|borrower}} under an [[agent lending]] transaction may have a significant exposure across all {{gmslaprov|lender}}s due to aggregated collateral haircuts, but that is  by definition diversified risk, and the {{gmslaprov|borrower}} can  generally break term transactions.</ref>;
+*Neither party has material exposure<ref>Okay, okay, a {{gmslaprov|borrower}} under an [[agent lending]] transaction may have a significant exposure across all {{gmslaprov|lender}}s due to aggregated [[collateral]] [[Haircut|haircuts]], but that is  by definition diversified risk, and the {{gmslaprov|borrower}} can  generally break term transactions.</ref>;
 *There will usually be payment flows happening daily as loaned {{gmslaprov|Securities}} and {{gmslaprov|Collateral}} values move around with the market, creating collateral transfers; and
-*Even if there aren’t, either party can recall the loans on any day<ref>Unless they are term transactions, but even there the terms tend to be short — ninety days is a maximum — and see above re usual daily collateral flows.</ref>
+*Even if there aren’t, either party can recall the loans on any day<ref>Unless they are term transactions, but even there the terms tend to be short — ninety days is a maximum — and see above re usual daily [[collateral]] flows.</ref>