Isda working group close to finalising standard CSA
Dealers are close to agreeing a final template for a new standard credit support annex (CSA), having made some significant changes in recent months in response to industry concerns.
The new document, being drawn up by an International Swaps and Derivatives Association working group, is meant to eliminate the embedded optionality in the existing CSA, which has led to a number of valuation disputes and caused novations to virtually slow to a halt. It does so by establishing 17 currency silos, in
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