Credit support annex (CSA)
Profile: Credit Suisse's de Boissard on capital efficiency, Basel III and bank strategy
The adjustment bureau
Bank of England to post collateral in OTC derivatives trades
BoE thought to be the first major central bank to change policy on collateralisation as it seeks to reduce dealer funding charges
Dealers pitch loan format for swaps as CVA dodge
Banks are offering to replicate the economics of OTC swaps in loan format - avoiding new capital and clearing rules
Isda AGM: Euro crisis drives up collateral, finds survey
Trouble in the eurozone is increasing collateral in over-the-counter derivatives market, according to Isda
Isda 27th Annual General Meeting Chicago 2012
End in sight?
A turning tide for two-way CSAs?
A turning tide for two-way CSAs?
Cutting complexity with a new standard CSA
Cutting complexity
Italy could face more swap terminations
Italian politicians claim Morgan Stanley's swap termination in January will be a one-off - but dealers say Italy's debt office is subject to other clauses that could have the same effect
BlackRock tries to renegotiate 'dirty CSAs'
Asset manager seeking to remove collateral optionality - and pricing divergence - from thousands of CSAs
Isda working group close to finalising standard CSA
Latest proposal extends number of silos from five to 17, mirroring approach taken by LCH.Clearnet
Dealers call for revised language on break clause close-outs
Current methodology to calculate a close-out value following the exercise of a break clause results in inaccuracies, claim dealers
More sovereigns edge towards two-way CSAs - and clearing
Towards two-way CSAs
Margin rules for uncleared FX rest with regulatory working groups
Regulators must adopt a calibrated approach to mandated collateral so that short-dated FX swaps and forwards are not caught up in the rules unnecessarily, argue market participants
Danish and Latvian debt offices weigh two-way collateral
The costs of transacting swaps with one-way CSAs mean more debt offices could join Hungary, Ireland, Portugal and Sweden
Dealers tackle euro redenomination risks
Back to the drachma?
Standard CSA: the dollar dominance dispute
The dollar dominance dispute
The dollar dominance dispute
Disputes over the valuation of collateralised derivatives trades have pushed the industry to develop a new standard credit support annex. A solution has been proposed – but some Asian banks have raised concerns about the dominant role given to the US…
OECD debt offices call for derivatives collateral debate
New report calls for debt offices to weigh the pros and cons of two-way collateral and clearing
Review of 2011: collateral, capital and chaos
Collateral, capital and chaos
New standard CSA too dollar-centric, say Asian banks
Banks in Asia-Pacific complain about dollar dominance in new standard CSA – prompting Isda to rethink its plans
Eksportfinans faces collateral questions following downgrade
Junk-rated export lender says it has enough reserve liquidity to meet obligations while it is being wound up - but dealers are not convinced
Pickel replaces Voldstad as Isda chief executive
Bob Pickel reappointed Isda chief executive, replacing Connie Voldstad, who will stay on as special adviser to the board
Dealers predict CVA-CDS loop will create sovereign volatility
A recipe for disaster?
Standard CSA: Industry's solution to novation bottleneck gets nearer
New CSA, new challenge