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The 2016 {{tag|CSA}} generated at great expense by {{tag|ISDA}} to deal with all the regulatory obligations to post and collect [[variation margin]] that have popped up around the world, like so many stable doors boinking emptily against their jambs while the ponies of financial ruin career wildly through the meadows of propriety. | {{anat|2016csa}}The 2016 {{tag|CSA}} generated at great expense by {{tag|ISDA}} to deal with all the regulatory obligations to post and collect [[variation margin]] that have popped up around the world, like so many stable doors boinking emptily against their jambs while the ponies of financial ruin career wildly through the meadows of propriety. | ||
Part of the point of regulatory compliance was to ''remove'' the concept of title-transfer {{csaprov|Independent Amount}} (“{{csaprov|IA}}” being {{tag|ISDA}}-speak for “[[initial margin]]”). After all, [[title transfer]] [[IA]] rather strikes at the heart of the regulatory aspiration, namely to collateralise [[mark-to-market]] exposures, so that neither party carried significant credit exposure to the other. | Part of the point of regulatory compliance was to ''remove'' the concept of title-transfer {{csaprov|Independent Amount}} (“{{csaprov|IA}}” being {{tag|ISDA}}-speak for “[[initial margin]]”). After all, [[title transfer]] [[IA]] rather strikes at the heart of the regulatory aspiration, namely to collateralise [[mark-to-market]] exposures, so that neither party carried significant credit exposure to the other. | ||
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{{2016 VM CSA TOC}} | {{2016 VM CSA TOC}} | ||
{{ref}} | {{ref}} |