Understanding Core ISDA Documentation: The Variation Margin Credit Support Documents
Monday, June 5, 2023Online
Member US$350.00
Non-Member US$400.00
Register for Understanding Core ISDA Documentation: The Variation Margin Credit Support Documents
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Promo Codes - Member: INTRO20 | Non-Member: INTRO2023
Understanding Core ISDA Documentation
The ISDA Master Agreement - March 8
Negotiating Core ISDA Documentation
The ISDA Master Agreement - June 6
The Variation Margin Credit Support Documents - June 7
Registration for this event will close 2 hours before the live broadcast
This is an ISDA Virtual Conference:
- Event will be live on June 5, 2023 from 9:00 AM - 12:30 PM EDT | Timezone Converter
- Miss part of the event or aren't able to watch live? The recording will be available to registrants until July 5, 2023
Educational Credits
3.5 CLE Credit Hours Available (New York) Transitional and Non-Transitional
3.5 CPE Credit Hours Available
3.25 CPD Credit Hours Available (England and Wales)
9:00 AM Introduction and Welcoming Remarks Megan O’Flynn
9:05 AM Regulatory VM Requirements for Swaps and Security-Based Swaps Ian Cuillerier, Adam Lapidus, Darren A. Littlejohn
This session will explain the VM requirements in the US and other key jurisdictions implementing the international WGMR framework:
- Which entities are subject to the requirements?
- Which trades are subject to the requirements?
- What are the VM requirements?
- Cross-border implications and key similarities/differences with rules in other jurisdictions
- Impact on CSA documentation
Adam Lapidus, Of Counsel, Gibson, Dunn & Crutcher LLP
Darren A. Littlejohn, Partner, Clifford Chance LLP
10:20 AM Break
10:25 AM Understanding the 2016 ISDA Credit Support Annex For VM (New York and English Law) Kyara Mathias, Deborah North, Jateen Shah
The ISDA VM Credit Support Annex under forms part of the Schedule of the ISDA Master Agreement. It is designed to document security arrangements involving the use of collateral to secure the risk either or both parties may have under the ISDA Master Agreement to which the ISDA VM Credit Support Annex relates incompliance with applicable VM regulations. This session will examine critical provisions in the ISDA Credit Support Annex under New York law and English Law, including:
- Key principles of the credit support arrangements
- The posting party and the receiving party– How can this party change over time?
- Scope of Covered Transactions under CSA
- Credit Support Obligations: The Delivery Amount and Return Amount
- Minimum Transfer Amounts
- Adding an Independent Amount (IA) and using the Independent Amount provisions
- Transfer Timing: When must a party deliver or return collateral?
- The Valuation Agent and Dispute Resolution
- Substitutions/Exchanges
- Holding and use of Posted Collateral
- Distributions and Interest Amounts
- Events of Default
- Rights and Remedies
- Legally Ineligible Credit Support provisions
- Credit Support Offsets
- Terms for non-netting counterparties
- Other Provisions
- ISDA VM Protocol
Deborah North, Partner, Cleary Gottlieb Steen & Hamilton LLP
Jateen Shah, Managing Director & Associate General Counsel, Bank of America
11:30 AM Break
11:35 AM Understanding the 2016 ISDA Credit Support Annex For VM (New York and English Law) Continued Kyara Mathias, Deborah North, Jateen Shah
Deborah North, Partner, Cleary Gottlieb Steen & Hamilton LLP
Jateen Shah, Managing Director & Associate General Counsel, Bank of America
12:30 PM Conference Concludes
Agenda is subject to change.