Template:Isda 5(a)(v) comp: Difference between revisions

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 {{{{{1}}}|DUST}} has been expanded in five significant ways by the {{2002ma}}:
-*'''[[mini-closeout]] carveout''': Defaults require the [[acceleration]] of just ''the'' {{{{{1}}}|Specified Transaction}} in question (for ''general'' defaults) but off ''all'' outstanding transactions under the relevant [[master agreement]] (for ''[[delivery]]'' defaults). This change was made with [[mini-close-out]] under [[repo]]s and [[stock loan]]s in mind — a concept which the stock loan market invented after the {{1992ma}} was published, so you can’t really blame {{icds}} for overlooking it at first — where delivery failures under are common and do not of themselves indicate weakness in the {{{{{1}}}|Defaulting Party}}’s creditworthiness.
+*'''[[Mini-closeout]] carveout''': Defaults require the [[acceleration]] of just ''the'' {{{{{1}}}|Specified Transaction}} in question (for ''general'' defaults) but off ''all'' outstanding transactions under the relevant [[master agreement]] (for ''[[delivery]]'' defaults). This change was made with [[mini-close-out]] under [[repo]]s and [[stock loan]]s in mind — a concept which the stock loan market invented after the {{1992ma}} was published, so you can’t really blame {{icds}} for overlooking it at first — where delivery failures under are common and do not of themselves indicate weakness in the {{{{{1}}}|Defaulting Party}}’s creditworthiness.
 *'''Credit support failures covered''': {{isdaprov|DUST}} under the {{2002ma}} can be triggered by default under a [[credit support arrangement]] relating to a {{isdaprov|Specified Transaction}}. These weren’t included for the {{1992isda}} {{isda92prov|DUST}}.
 *'''Shortened [[cure period]]''': The [[cure period]] for a failure to make a final or early termination payment ona {{{{{1}}}|Specified Transaction}} has been reduced from three days to one.