Transfers, Calculations and Exchanges - VM CSA Provision: Difference between revisions
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{{csaanat|3|2016}}'''Diff''': Aside from the tedious suffix action on the defined terms, the provision is largely the same as for the {{1995csa}}. They have binned a long for the avoidance of doubt disquisition about [[telex]]es and [[fax]]es in {{vmcsaprov|3(a)(iii)}} and to compensate have indulged in some unnecessary details in {{vmcsaprov|3(b)}} about what values and inputs the {{vmcsaprov|Valuation Agent}} may use in coming up with a valuation.A salutary thanks-for-phoning-in kind of effort. Have a look [https://jollycontrarian.com/index.php?title=Talk%3ATransfers%2C_Calculations_and_Exchanges_-_VM_CSA_Provision&type=revision&diff=35616&oldid=35615 here] if you | {{csaanat|3|2016}}'''Diff''': Aside from the tedious suffix action on the defined terms, the provision is largely the same as for the {{1995csa}}. They have binned a long for the avoidance of doubt disquisition about [[telex]]es and [[fax]]es in {{vmcsaprov|3(a)(iii)}} and to compensate have indulged in some unnecessary details in {{vmcsaprov|3(b)}} about what values and inputs the {{vmcsaprov|Valuation Agent}} may use in coming up with a valuation.A salutary thanks-for-phoning-in kind of effort. Have a look [https://jollycontrarian.com/index.php?title=Talk%3ATransfers%2C_Calculations_and_Exchanges_-_VM_CSA_Provision&type=revision&diff=35616&oldid=35615 here] if you don’t believe me. <br> |
Revision as of 18:29, 16 December 2019
2016 VM CSA Anatomy™
Subject to Paragraph 4, if a deliveror receives a demand for Eligible Credit Support (VM) or Equivalent Credit Support (VM) by the Notification Time, then it must transfer by the close of business on the Regular Settlement Day for the date of the demand; if later than that, by close of business on the Regular Settlement Day for the following day. When calculating Value, it may use close of businessValues for the Eligible Credit Support (VM) as of the Valuation Time. When calculating Exposure, it may use close of business data in relevant markets as of the Valuation Time. The Valuation Agent will transmit its calculations by the Notification Time on the Local Business Day following the Valuation Date (or other calculation date).
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Subject to Paragraph 4, and unless otherwise specified in Paragraph 11, if a demand for the transfer of Eligible Credit Support (VM) or Equivalent Credit Support (VM) is received by the Notification Time, then the relevant transfer will be made not later than the close of business on the Regular Settlement Day relating to the date such demand is received; if a demand is received after the Notification Time, then the relevant transfer will be made not later than the close of business on the Regular Settlement Day relating to the day after the date such demand is received.
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Diff: Aside from the tedious suffix action on the defined terms, the provision is largely the same as for the 1995 CSA. They have binned a long for the avoidance of doubt disquisition about telexes and faxes in 3(a)(iii) and to compensate have indulged in some unnecessary details in 3(b) about what values and inputs the Valuation Agent may use in coming up with a valuation.A salutary thanks-for-phoning-in kind of effort. Have a look here if you don’t believe me.