Template:Csa 2(b) summ: Difference between revisions

Template:Csa 2(b) summ (view source)

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-===Calculating {{prov|Delivery Amount}}s and {{prov|Return Amount}}s===
+====Calculating {{{{{1}}}|Delivery Amount}}s and {{{{{1}}}|Return Amount}}s====
-====Differences between {{csa}} and {{vmcsa}}====
+=====Differences between {{csa}} and {{vmcsa}}=====
-Note that under a {{vmcsa}} there is no {{csaprov|Independent Amount}} or {{csaprov|Threshold}}, so there is no need for a {{csaprov|Credit Support Amount}} (which is {{csaprov|Exposure}} adjusted by applicable {{csaprov|Independent Amount}}s and {{csaprov|Threshold}}s) — everything keys off the plain old {{vmcsaprov|Exposure}}.
+Under a {{vmcsa}} there is no {{csaprov|Independent Amount}} or {{csaprov|Threshold}}, so there is no need for a {{csaprov|Credit Support Amount}} (which is {{csaprov|Exposure}} adjusted by applicable {{csaprov|Independent Amount}}s and {{csaprov|Threshold}}s) — everything keys off the plain old {{vmcsaprov|Exposure}}.
 Unless, that is, you have retrofitted your {{vmcsa}} to include {{vmcsaprov|Independent Amount}}s. The below assumes you ''have'' done that. Because some genius in your [[credit department]] will have decided this is really important. If you ''haven’t'', it is a bit easier: just substitute “{{csaprov|Credit Support Amount}}” for “{{vmcsaprov|Exposure}}”. For more on this stimulating topic, see {{vmcsaprov|Credit Support Amount (VM/IA)}}.
-===={{prov|Delivery Amount}}s====
+====={{{{{1}}}|Delivery Amount}}s=====
-'''First''': work out your '''{{prov|Credit Support Amount}}'''. This is: <br>
+'''First''': work out your '''{{{{{1}}}|Credit Support Amount}}'''. This is: <br>
-:''{{prov|Transferee}}’s {{prov|Exposure}} + Net {{prov|Independent Amount}}s (IF ANY)<ref>In the {{2016csa}} there really shouldn’t be {{tag|IA}} as it kind of defeats the regulatory goal of marking actual exposures to market, but there may be, since ISDA caved and retrofitted the {{2016csa}} with a an {{vmcsaprov|Independent Amount}} section</ref>'' <br>
+:''{{{{{1}}}|Transferee}}’s {{{{{1}}}|Exposure}} + Net {{{{{1}}}|Independent Amount}}s (IF ANY)<ref>In the {{2016csa}} there really shouldn’t be {{tag|IA}} as it kind of defeats the regulatory goal of marking actual exposures to market, but there may be, since ISDA caved and retrofitted the {{2016csa}} with a an {{vmcsaprov|Independent Amount}} section</ref>'' <br>
-'''Second''': calculate the {{prov|Value}} of the {{prov|Transferor}}’s {{prov|Credit Support Balance}}. This is basically the prevailing value of the {{prov|Eligible Credit Support}} (and income on it) that the {{prov|Transferor}} has ponied up at that time. <br>
+'''Second''': calculate the {{{{{1}}}|Value}} of the {{{{{1}}}|Transferor}}’s {{{{{1}}}|Credit Support Balance}}. This is basically the prevailing value of the {{{{{1}}}|Eligible Credit Support}} (and income on it) that the {{{{{1}}}|Transferor}} has ponied up at that time. <br>
-'''Third''': Deduct the {{prov|Credit Support Balance}} from the {{prov|Credit Support Amount}}.
+'''Third''': Deduct the {{{{{1}}}|Credit Support Balance}} from the {{{{{1}}}|Credit Support Amount}}.
 '''Fourth''': If the difference from the sum you did in (3):
-:is  ''less'' than zero, KEEP QUIET. If you are lucky, the other guy won’t ask ''you'' for a {{prov|Return Amount}}.
+:is  ''less'' than zero, KEEP QUIET. If you are lucky, the other guy won’t ask ''you'' for a {{{{{1}}}|Return Amount}}.
-:is ''more'' than zero but ''less'' than the {{prov|Minimum Transfer Amount}}, also KEEP QUIET. No {{prov|Delivery Amount}} for you today, because you haven’t exceeded the {{prov|Minimum Transfer Amount}}, so you are not entitled to one.
+:is ''more'' than zero but ''less'' than the {{{{{1}}}|Minimum Transfer Amount}}, also KEEP QUIET. No {{{{{1}}}|Delivery Amount}} for you today, because you haven’t exceeded the {{{{{1}}}|Minimum Transfer Amount}}, so you are not entitled to one.
-:is ''more'' than the {{prov|Minimum Transfer Amount}} you can demand the ''whole'' amount (I.e., not just the bit over the {{prov|MTA}}).
+:is ''more'' than the {{{{{1}}}|Minimum Transfer Amount}} you can demand the ''whole'' amount (I.e., not just the bit over the {{{{{1}}}|MTA}}).
-===={{prov|Return Amount}}s====
+====={{{{{1}}}|Return Amount}}s=====
-Basically the converse of a {{prov|Delivery Amount}}. In this case you deduct the {{prov|Credit Support Amount}} from the {{prov|Credit Support Balance}}.
+Basically the converse of a {{{{{1}}}|Delivery Amount}}. In this case you deduct the {{{{{1}}}|Credit Support Amount}} from the {{{{{1}}}|Credit Support Balance}}.
 {{in-flight credit support|}}
-====Picturesque speech====
+=====Picturesque speech=====
-''Bonus learning for free: In arithmetic, a sum being ''subtracted'' is the “[[subtrahend]]” and the sum it is being subtracted from is the “[[minuend]]”.'' <br>
+''Bonus learning for free: In arithmetic, a sum being ''subtracted'' is the “[[subtrahend]]” and the sum it is being subtracted from is the “[[minuend]]”.''