Mastering ISDA Collateral Documents
� A Practical Guide for Negotiators
   
 
Författare:Harding Paul , Johnson Christian
Titel:Mastering ISDA Collateral Documents � A Practical Guide for Negotiators
Upplaga:2 uppl.
Utgivningsår:2012
Omfång:491 sid.
Förlag:FT Prentice Hall
ISBN:9780273757177
Ämnesord:Förmögenhetsrätt , Associationsrätt och värdepappersrätt

Pris: 2156 SEK exkl. moms

 

This is a new edition of the only accessible single volume guide to the ISDA Credit Support Annexes, sanctioned under English and US law. The Annexes collateralise or secure over the counter derivatives risk exposure. This is the companion book to Mastering the ISDA Master Agreements, now in its third edition.

First published in 2002, the book is a guide to negotiation of the two main ISDA Credit Support Annexes which are used to support the ISDA Master Agreements. The ISDA Credit Support Annexes are the main support documents which relate to collateralised or secure over the counter derivatives risk exposure.

This book covers collateral management from an operational perspective and focuses on the two main ISDA Credit Support Documents. It provides a clear concise narrative on their provisions and amendments

Table of Contents:
About the authors
Disclaimer
Acknowledgements
Authors’ foreword

1 Introduction
- Definition of terms
- Why collateral is taken
- Types of collateral
- Product risk exposure covered
- Evolution of collateral documentation

2 Collateral management from a European perspective
- Some facts and figures
- What collateral management units do
- The importance of policies and procedures
- Setting up the collateral relationship
- Exposure monitoring and collateral valuation and calling
- Transfers
- Reuse of collateral
- Collateral substitutions
- Distributions
- Disputes
- Portfolio reconciliations
- Defaults
- Branches
- External collateral management services

3 Legal issues relating to collateral from the European and US perspectives
European perspective by Paul Harding
- Introduction
- General issues
- Recharacterisation
- Conflict of laws rules
- The PRIMA rule
- Other legal issues
- ISDA collateral legal opinions
- The European Directive on Financial Collateral Arrangements
- Draft Hague Convention on indirectly held securities
- Amending Directive to the Collateral Directive and Settlement
- Finality Directive
- Geneva Securities Convention
- Collateralisation and central clearing counterparties
US perspective by Christian Johnson
- Introduction
- Enforcement of New York choice of law
- Security interest creation and perfection
- Exercising rights under the Security Agreement
- Other issues
- Other enforcement concerns
- Dodd-Frank changes

4 Credit issues relating to collateral
- Establishment of collateral management risk guidelines
- Initial margin
- Haircuts
- Thresholds
- Minimum Transfer Amounts
- Eligible collateral
- Scope of collateralisation
- Establishing policy for eligible collateral
- Special counterparties
- Sovereigns
- Supranational entities
- Hedge funds
- Other duties
- Risks
- The Basel II Capital Accord
- Position of collateralisation under Basel III
- The future

5 The English Law ISDA Credit Support Annex
- Paragraph by paragraph analysis
- Glossary of terms in Paragraph 10
- Examples of Paragraph 11 provisions

6 The New York Law ISDA Credit Support Annex
- Paragraph by paragraph analysis
- Glossary of terms in Paragraph 12
- Examples of Paragraph 13 provisions
- Comparison of the New York Law CSA with the English Law CSA

7 The ISDA English Law Credit Support Deed
- Paragraph by paragraph summary of the English Law Credit Support Deed
- Principal differences between the English Law CSA and the English Law Deed
- ISDA Fallbacks for the English Law Credit Support Deed
 
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