Understanding Core ISDA Documentation: Variation Margin Credit Support Documents

Wednesday, March 6 to Friday, May 31, 2024
Online

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Understanding Core ISDA Documentation - Recording

The ISDA Master Agreement – March 5

Negotiating Core ISDA Documentation - Recording

Schedule to the ISDA Master Agreement - March 7

 

This is a pre-recorded Virtual Conference

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Recording available until May 31, 2024

 

 

This is an ISDA Virtual Conference:

  • This is a recording of the Understanding Core ISDA Documentation: Variation Margin Credit Support Documents virtual conference which took place on March 6, 2024
  • Registrants will have access to the recording until 5:30 PM EDT on May 31, 2024
  • After submitting your registration, you will receive a confirmation email with a link to view the documents and recording
Print Agenda Understanding Core ISDA Documentation: Variation Margin Credit Support Documents for

9:00 AM Introduction and Welcoming Remarks Megan O’Flynn

Megan O’Flynn, Assistant General Counsel, ISDA

9:05 AM Regulatory VM Requirements for Swaps and Security-Based Swaps Brandon M. Hammer, Cheryl Isaac, Amelia Kaufman

This session explains 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
Brandon M. Hammer, Partner, Cleary Gottlieb Steen & Hamilton LLP
Cheryl Isaac, Partner, K&L Gates LLP
Amelia Kaufman, Director, Legal Counsel, BlackRock

10:20 AM Break

10:25 AM Understanding the 2016 ISDA Credit Support Annex For VM (New York and English Law) Christopher Bender, Ilene K. Froom, Catherine Shamie, Sarah Willis

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 examines 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
Christopher Bender, Assistant General Counsel, The Vanguard Group, Inc.
Ilene K. Froom, Partner, Katten Muchin Rosenman LLP
Catherine Shamie, Senior Counsel and Director, Bank of Montreal
Sarah Willis, Managing Associate, Linklaters LLP

11:30 AM Break

11:35 AM Understanding the 2016 ISDA Credit Support Annex For VM (New York and English Law) Continued Christopher Bender, Ilene K. Froom, Catherine Shamie, Sarah Willis

Christopher Bender, Assistant General Counsel, The Vanguard Group, Inc.
Ilene K. Froom, Partner, Katten Muchin Rosenman LLP
Catherine Shamie, Senior Counsel and Director, Bank of Montreal
Sarah Willis, Managing Associate, Linklaters LLP

12:30 PM Virtual Conference Concludes


Venue Location:


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