Template:M summ 1992 ISDA Affected Transactions

From The Jolly Contrarian
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Seeing how third party credit support generally works under an ISDA Master Agreement — it only comes into play once Transactions have been closed out, and there are no Transactions left, Affected or otherwise[1] this does seem a rather fussy detail; all the more so now in the age of regulatory variation margin. I mean, who provides credit support for individual Transactions under a master agreement specifically designed to achieve cross-transactional closeout netting?

  1. The notable exception being a New York law Credit Support Annex of course.