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Template:M summ GMSLA 5.3: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "Unlike the {{csa}}, a {{gmslaprov|Borrower}} under the {{gmsla}} can require a Lender to switch {{gmslaprov|Collateral}} posted to it with {{gmslaprov|Alternative Collateral}}...") |
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Unlike the {{csa}}, a {{gmslaprov|Borrower}} under the {{gmsla}} can require a Lender to switch {{gmslaprov|Collateral}} posted to it with {{gmslaprov|Alternative Collateral}} (provided it is acceptable to the {{gmslaprov|Lender}}, which it will be if it meets the definition of {{gmslaprov|Collateral}} and is listed in {{gmslaprov|Schedule 1}}). | [[Substitutions of Collateral - GMSLA Provision|Unlike]] the {{csa}}, a {{gmslaprov|Borrower}} under the {{gmsla}} can require a Lender to switch {{gmslaprov|Collateral}} posted to it with {{gmslaprov|Alternative Collateral}} (provided it is acceptable to the {{gmslaprov|Lender}}, which it will be if it meets the definition of {{gmslaprov|Collateral}} and is listed in {{gmslaprov|Schedule 1}}). | ||
By contrast, under Paragraph {{csaprov|3(c)}} of the CSA, a switch of posted Collateral requires the consent of the holding party (see {{csaprov|3(c)(ii)}}). The FOA Exchange-Traded Derivatives Agreement is similar to the ISDA CSA. | By contrast, under Paragraph {{csaprov|3(c)}} of the CSA, a switch of posted Collateral requires the consent of the holding party (see {{csaprov|3(c)(ii)}}). The FOA Exchange-Traded Derivatives Agreement is similar to the ISDA CSA. | ||