82,964
edits
Template:Nutshell 2016 CSA 5(c)(ii)(A): Difference between revisions
Template:Nutshell 2016 CSA 5(c)(ii)(A) (view source)
Revision as of 10:42, 6 January 2020
, 6 January 2020no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
::{{vmcsaprov|5(c)(ii)(A)}} if “'''{{vmcsaprov|Interest Transfer}}'''” applies the {{vmcsaprov|Interest Payer (VM)}} must transfer an {{vmcsaprov|Interest Payment (VM)}} to the {{vmcsaprov|Interest | ::{{vmcsaprov|5(c)(ii)(A)}} if “'''{{vmcsaprov|Interest Transfer}}'''” applies the {{vmcsaprov|Interest Payer (VM)}} must transfer an {{vmcsaprov|Interest Payment (VM)}} to the {{vmcsaprov|Interest Payee (VM)}}, as required under Paragraph {{vmcsaprov|11(g)(ii)}} and on any {{isdaprov|Early Termination Date}} provided that if “{{vmcsaprov|Interest Payment Netting}}” applies: | ||
:::(I) if the {{vmcsaprov|Interest Payer (VM)}} is due a payment under the [[VM CSA]] on the same date: | :::(I) if the {{vmcsaprov|Interest Payer (VM)}} is due a payment under the [[VM CSA]] on the same date: | ||
::::(a) it will be reduced by the {{vmcsaprov|Interest Payment (VM)}} (but not below zero), provided that for a {{vmcsaprov|Return Amount (VM)}}, the deduction will only apply to the extent of any {{vmcsaprov|Base Currency}} cash portion of the {{vmcsaprov|Credit Support Balance (VM)}}; and | ::::(a) it will be reduced by the {{vmcsaprov|Interest Payment (VM)}} (but not below zero), provided that for a {{vmcsaprov|Return Amount (VM)}}, the deduction will only apply to the extent of any {{vmcsaprov|Base Currency}} cash portion of the {{vmcsaprov|Credit Support Balance (VM)}}; and | ||
::::(b) after any such reduction the {{vmcsaprov|Interest Payer (VM)}} must transfer the remaining {{vmcsaprov|Interest Payment (VM)}} to the {{vmcsaprov| | ::::(b) after any such reduction the {{vmcsaprov|Interest Payer (VM)}} must transfer the remaining {{vmcsaprov|Interest Payment (VM)}} to the {{vmcsaprov|Interest Payee (VM)}}; | ||
:::(II) following such a reduction, when working out the {{vmcsaprov|Credit Support Balance (VM)}}, the {{vmcsaprov|Transferee}} will be deemed to have received or transferred the {{vmcsaprov|Base Currency}} cash equivalent of the reduced amount, on the due date for the {{vmcsaprov|Interest Payment (VM)}}; and <br> | :::(II) following such a reduction, when working out the {{vmcsaprov|Credit Support Balance (VM)}}, the {{vmcsaprov|Transferee}} will be deemed to have received or transferred the {{vmcsaprov|Base Currency}} cash equivalent of the reduced amount, on the due date for the {{vmcsaprov|Interest Payment (VM)}}; and <br> | ||