Template:M summ 2016 NY CSA 7: Difference between revisions
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{{ | [[7 - NY VM CSA Provision|Quite]] different to the default provision under the {{vmcsa}}, because the NY version is not a {{isdaprov|Transaction}}. This means it needs to have its own {{nyvmcsaprov|Events of Default}} clause, rather than piggy-backing off the {{isdama}}. It also has its own [[grace period]], which defaults to two {{nyvmcsaprov|Local Business Day}}s. | ||
Latest revision as of 13:42, 13 January 2022
Quite different to the default provision under the 2016 VM CSA, because the NY version is not a Transaction. This means it needs to have its own Events of Default clause, rather than piggy-backing off the ISDA Master Agreement. It also has its own grace period, which defaults to two Local Business Days.