Spanish debt office in negotiations on credit support annex thresholds

Christopher Whittall
31 Aug 2010

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The Spanish debt office is in negotiations to amend collateral agreements on its derivatives trades to ease the funding burden for its bank counterparties. A senior official at Tesoro Público told Risk the agency is considering raising the minimum threshold within its one-way credit support annex (CSAs) agreements to reduce the possibility of a bank having to post collateral when a trade moves against it.

"What we are envisaging to do, and we are not sure about this yet, is to increase

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