Template:Nutshell 1995 CSA Local Business Day: Difference between revisions

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{{subst:Nutshell 2016 VM CSA Local Business Day}}
“'''{{vmcsaprov|Local Business Day}}'''” means:
:(i) '''[[Dematerialised]] [[securities]]''': for securities transfers inside a [[clearance system]], a day on which that [[clearance system]] executes settlement instructions;
:(ii) '''[[Cash]] and other property''': for cash and other transfers, a day on which commercial banks are open where the relevant account is located and in the principal financial centre for any relevant currency;
:(iii) '''{{vmcsaprov|Resolution Time}}''': for a {{vmcsaprov|Resolution Time}}, a day on which commercial banks are open in at least one {{vmcsaprov|Valuation Date Location}} for each Party; and
:(iv) '''{{isdaprov|Notice}}s''': for any communication, a day on which commercial banks are open in the place specified for the recipient in the {{isdaprov|notice}}s section.<br>

Revision as of 16:41, 13 January 2022

“Local Business Day” means:

(i) Dematerialised securities: for securities transfers inside a clearance system, a day on which that clearance system executes settlement instructions;
(ii) Cash and other property: for cash and other transfers, a day on which commercial banks are open where the relevant account is located and in the principal financial centre for any relevant currency;
(iii) Resolution Time: for a Resolution Time, a day on which commercial banks are open in at least one Valuation Date Location for each Party; and
(iv) Notices: for any communication, a day on which commercial banks are open in the place specified for the recipient in the notices section.
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