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===Comparable master agreements=== | ===Comparable master agreements=== | ||
We are given to understand that neither the {{gmra}}, the {{mra}} | We are given to understand that neither the {{gmra}}, its American cousin the {{mra}} nor the American stock lending agreement the {{msla}} have comparable mini-close-out provisions, though it is understood as a matter of good form that where there has been a simple innocent settlement failure and one can safely [[buy in]] — thereby helping oneself — one would never be so vulgar or unsportspersonlike as to actually call an [[Event of Default]]. And the market seems cool with that — [[cognitive dissonance]] to the power of one — until it comes to worrying whether that will impact a cross-default under a neighbouring {{isdama}}, at which point the buyside market flips out — [[cognitive dissonance]] to the power of a ''trillion''. |