Template:Isda 5(a)(v) comp

Revision as of 15:33, 24 December 2023 by Amwelladmin (talk | contribs) (Amwelladmin moved page Template:Isda 5(a)(v) comm to Template:Isda 5(a)(v) comp)

{{{{{1}}}|DUST}} has been expanded in five significant ways by the 2002 ISDA:

  • The phrase “or challenges the validity of” was added after “disaffirms, disclaims, repudiates or rejects” to reduce ambiguity as to whether a party’s action constitutes a repudiation; and
  • to stiffen the criteria for something to count as a repudiation so as to require written evidence from the repudiating party of its extended middle finger. This is really an articulation of common sense, for it would be a brave risk officer indeed who closed out an ISDA Master Agreement based on an oral communication, or the proverbial extended middle finger, for which she could not subsequently produce in fairly compelling evidence. But still.
  • Widened definition of {{{{{1}}}|Specified Transaction}}: The “{{{{{1}}}|Specified Transaction}}” concept has been broadened to include additional transaction types such as repos, and to include a catchall clause designed to include any future derivative products that have not been thought of yet.