Template:ISDA English Law Credit Support Annex 2016 Interest Amount (VM): Difference between revisions

“'''{{csaprov|Interest Amount (VM)}}'''” means with respect to an {{csaprov|Interest Period}}, the aggregate sum of the {{csaprov|Base Currency Equivalent}}s of the amounts of [[interest]] determined for each relevant currency and calculated for each day in that {{csaprov|Interest Period}} on the portion of the {{csaprov|Credit Support Balance (VM)}} comprised of cash in such currency, determined by the {{csaprov|Valuation Agent}} for each such day as follows:

:(i) the amount of cash in such currency on that day plus, only if "{{csaprov|Daily Interest Compounding}}" is specified as applicable in Paragraph {{csaprov|11(g)(iii)}}, the aggregate of each {{csaprov|Interest Amount (VM)}} determined for each preceding day, if any, in that {{csaprov|Interest Period}}; multiplied by <br />

:(ii) the relevant {{csaprov|Interest Rate (VM)}} in effect for that day; divided by <br />

:(iii) 360 (or, in the case of pounds sterling or any other currency specified as an “{{csaprov|A/365 Currency}}” in Paragraph 11(g)(i), 365),

provided that, unless “{{csaprov|Negative Interest}}” is specified as applicable in Paragraph {{csaprov|11(g)(iii)}}, if the {{csaprov|Interest Amount (VM)}} for an {{csaprov|Interest Period}} would be a negative amount, it will be deemed to be zero. <br />