Template:LBD capsule CSA: Difference between revisions
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The keen will have noticed that {{csaprov|Local Business Day}} under an English law CSA is | The keen will have noticed that “{{csaprov|Local Business Day}}” under an English law CSA is defined quite separately from “{{isdaprov|Local Business Day}}” as it is defined under the {{isdama}} itself, whereas a {{nycsaprov|Local Business Day}} under a New York law CSA, while separately defining the term, only goes on to defer to the original definition of LBD in the {{isdama}}, pausing only to clarify that references to “payment” in the {{isdama}} definiton are [[deemed]] to include {{nycsaprov|Transfers}} under the CSA. | ||
Why ISDA’s British {{cds}} couldn’t have done this too, we can only wonder. | Why ISDA’s British {{cds}} couldn’t have done this too, we can only wonder. | ||
Latest revision as of 16:53, 13 January 2022
The keen will have noticed that “Local Business Day” under an English law CSA is defined quite separately from “Local Business Day” as it is defined under the ISDA Master Agreement itself, whereas a Local Business Day under a New York law CSA, while separately defining the term, only goes on to defer to the original definition of LBD in the ISDA Master Agreement, pausing only to clarify that references to “payment” in the ISDA Master Agreement definiton are deemed to include Transfers under the CSA.
Why ISDA’s British crack drafting squad™ couldn’t have done this too, we can only wonder.