China netting law drives interest in CSAs
Steady growth in contracts with CSAs suggests confidence that clean netting is near
International banks are signing a growing number of credit support annex (CSA) agreements with their Chinese counterparties, which could jump-start the growth of derivatives markets once the country reaches certainty with regard to close-out netting.
“When and if close-out netting is recognised, business development will pick up significantly faster with CSAs already in place,” says Charles Feng
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