ISDA Conferences

International Swaps and Derivatives Association, Inc. (ISDA®)

Understanding Collateral Arrangements and
the ISDA Credit Support Documents Conference

5 CLE Credit Hours Available (Daini Tokyo Bar Association)

May 29, 2008
ANA InterContinental Tokyo
TOKYO

PROGRAM AGENDA

Note: Remarks of all speakers will be simultaneously transmitted in Japanese and English

8:00 AM	Registration
9:00 AM	Introduction and Welcoming Remarks Tomoko Morita, Policy Director and Head of the Tokyo Office, ISDA
9:10 AM	Collateral as a Credit Risk Mitigation Tool This session will examine the nature of credit risk arising from an OTC derivatives transaction and the manner in which collateral may be used to mitigate that risk. Different approaches to the use of collateral and associated benefits will also be explored. Toshihiko Kawamoto, Chief Manager, Planning Department, Derivative Products Division, The Bank of Tokyo-Mitsubishi UFJ, Ltd. Takeru Kawamura, Head of Management Coordination Team, ALM Division, Mizuho Corporate Bank, Ltd.
10:00 AM	Understanding the ISDA Credit Support Annex This session will provide an indepth analysis of: • ISDA Credit Support Annex (Security Interest – New York Law) • ISDA Credit Support Annex (Transfer – English Law) • ISDA Credit Support Annex (Japanese Annex), which permits parties to elect one of two legal structures: a traditional security pledge or “lending collateral” approach (comparable to English title transfer approach) Aaron Comerford, Senior Associate, Allen & Overy Piya Perera, Partner, Allen & Overy Akihiro Wani, Partner, Linklaters
10:45 AM	Morning Break
11:15 AM	Understanding the ISDA Credit Support Annex (continued)
12:45 PM	Luncheon
2:15 PM	Collateral Challenges in Cross-Border Transactions This session will identify issues that may arise when delivering and receiving cross-border collateral. An update on global developments in collateral law reform will be provided with a focus on the following initiatives: • Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary and the European Directive on Financial Collateral Arrangements • UNIDROIT project on the Harmonized Substantive Rules for the Use of Securities Held with Intermediaries as Collateral Tatsu Katayama, Partner, Anderson Mori & Tomotsune
3:00 PM	Current Issues in Collateral Management • 2008 ISDA Margin Survey preliminary results • Challenges Facing Collateral Managers Tomoko Morita, Policy Director and Head of the Tokyo Office, ISDA Yoshihiro Ueshima, Manager, Planning Department, Derivative Products Division, The Bank of Tokyo-Mitsubishi UFJ, Ltd.
3:45 PM	Afternoon Break
4:00 PM	Practical Issues in Collateral Management This session will discuss a variety of issues that arise in establishing and maintaining a collateral relationship between OTC derivative counterparties Oliver Stewart-Malir, Head of Collateral Management, Japan, Goldman Sachs Japan Co., Ltd. Miyuki Yamanashi, Manager, Resona Bank, Ltd.
5:00 PM	Conference Concludes

Agenda is subject to change

Please click here for the Conference Registration Form.

CONFERENCE VENUE: ANA InterContinental Tokyo, 12-33, Akasaka 1-chome, Minato-ku, Tokyo 107-0052
Telephone: 81 3 3505 1111

To obtain more information, please contact the ISDA conference department at +1 212-901-6000 or
e-mail CONFERENCES@ISDA.ORG