Template:M summ 2002 ISDA Applicable Close-out Rate: Difference between revisions

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Truly from the {{isia}} file — almost in the [[shoot me]] file. This whole game of pan-dimensional chess, with ''six'' different rates to apply in different circumstances, is all just to work out how to accrue interest on {{isdaprov|Unpaid Amount}}s and {{isdaprov|Early Termination Amount}}s when closing out. You get a strong sense that the pragmatists of {{icds}} — if there are any — had well and truly tuned out and gone to the bar by the the ’squad got to this definition. Looking on the bright side, ''at least it doesn’t mention [[LIBOR]]''.<ref>[[File:Dramatic Chipmunk.png|left|100px|frameless]]Did someone say ''[[LIBOR]]''?</ref>
{{isda Applicable Close-out Rate summ|isdaprov}}
===Default Rate===
{{M summ 2002 ISDA Default Rate}}

Latest revision as of 14:41, 3 January 2024

Truly from the I’m sorry I asked file — almost in the shoot me file. This whole game of pan-dimensional chess, with six different Applicable Close-out Rates to apply in different circumstances, is all just to work out how to accrue interest on Unpaid Amounts and Early Termination Amounts during the close-out process. Considering that the said payer of this Applicable Close-out Rate is, Q.E.D., a dead duck at the time, and is unlikely to be able to pay much of anything, let alone elevated penalty interest, it really should not have been this hard.

You get a strong sense that the pragmatists of ISDA’s crack drafting squad™ — if there are any — had well and truly tuned out and gone to the bar by the ’squad got to this definition. Looking on the bright side, at least it doesn’t mention LIBOR.[1]

  1. ↑
    Dramatic Chipmunk.png
    Did someone say LIBOR?
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