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Template:M summ 2016 NY CSA 6(c): Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "This is the classic part of your security interest {{nyvmcsa}} that converts it into a title transfer CSA, meaning — cough, as with much New York law frippery — th...") |
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This is the classic part of your security interest {{nyvmcsa}} that converts it into a [[title transfer]] CSA, meaning — cough, as with much [[New York law]] frippery — that you might as well not bother with calling this a pledge or security interest in the first place. | [[Use of Posted Collateral (VM) - NY VM CSA Provision|This]] is the classic part of your security interest {{nyvmcsa}} that converts it into a [[title transfer]] CSA, meaning — cough, as with much [[New York law]] frippery — that you might as well not bother with calling this a pledge or security interest in the first place. | ||
So I give my asset to you, right, carefully only [[Pledge|pledging]] it as [[Security interest|security]] for my [[indebtedness]] to you, and protect myself from your [[credit risk]] because I ''retain [[beneficial ownership]]'' of the asset. It is mine, not yours, and should you explode into a thousand points of light, then, once I have settled my trading account with your administrator, I can have my asset back. | So I give my asset to you, right, carefully only [[Pledge|pledging]] it as [[Security interest|security]] for my [[indebtedness]] to you, and protect myself from your [[credit risk]] because I ''retain [[beneficial ownership]]'' of the asset. It is mine, not yours, and should you explode into a thousand points of light, then, once I have settled my trading account with your administrator, I can have my asset back. | ||