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===2016 changes=== | ===2016 changes=== | ||
Basically to add in the {{csaprov|FX Haircut Percentage}} into the multiplier, that being (in some jurisdictions) a fairly hefty surcharge for those people who like to collateralize in a currency other than the one in which their derivatives are denominated. | Basically to add in the {{csaprov|FX Haircut Percentage}} into the multiplier, that being (in some jurisdictions) a fairly hefty surcharge for those people who like to collateralize in a currency other than the one in which their derivatives are denominated. | ||
{{ineligiblecreditsupport}} | {{ineligiblecreditsupport}} | ||
===="{{csaprov|Base Currency Equivalent}} of bid price"==== | ===="{{csaprov|Base Currency Equivalent}} of bid price"==== | ||
It is not unknown to amend limb (ii) to include "the {{csaprov|Base Currency Equivalent}} of the bid price obtained by the {{csaprov|Valuation Agent}} ''multiplied by the nominal amount of such security''". | It is not unknown to amend limb (ii) to include "the {{csaprov|Base Currency Equivalent}} of the bid price obtained by the {{csaprov|Valuation Agent}} ''multiplied by the nominal amount of such security''". | ||
This is presumably to cater for the argument that a "bid price" is a percentage figure. But "base currency equivalent" already impliedly converts any percentage value into cash amount. And if the {{csaprov|Eligible Credit Support}} includes collateral other that debt instruments (e.g., equities), reference to a nominal amount muiltiplier is potentially confusing. | This is presumably to cater for the argument that a "bid price" is a percentage figure. But "base currency equivalent" already impliedly converts any percentage value into cash amount. And if the {{csaprov|Eligible Credit Support}} includes collateral other that debt instruments (e.g., equities), reference to a nominal amount muiltiplier is potentially confusing. |