Search: Close-out netting
RBA Glossary definition for Close-out netting
Close-out netting – An arrangement to settle all contracted but not yet due liabilities to, and claims on, an institution by a single payment, immediately upon the occurrence of one of a list of defined events such as the appointment of a liquidator to that institution.
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Central Clearing of OTC Derivatives | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations
7 Jun 2011
Consultations
In many jurisdictions, the legal robustness of these netting and close-out arrangements is underpinned by legislation. ... In Australia, the relevant legislation is the. Payments Systems and Netting Act 1998.
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/central-clearing-otc-derivatives.html
Key Features of Repo CCPs | Central Clearing of Repos in Australia: A Consultation Paper | Consultations
6 Mar 2015
Consultations
CCP could realistically close out or hedge its exposure to a defaulted participant. ... Since multilateral netting may have decreased the overall exposure to the defaulted participant, and the CCP can coordinate the close out of exposures to the
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/key-features-repo-ccp.html
Oversight of Clearing and Settlement Facilities
11 Sep 2008
PSB Annual Report
– 2008
The stress-test approach is designed to ensure that ACH has sufficient liquidity to assume a defaulter's cash equity settlement obligations and close out its outstanding derivatives positions. ... The Bank has, therefore, been in close dialogue with ASX
https://www.rba.gov.au/publications/annual-reports/psb/2008/oversight.html
Performance of Australia's Payments Infrastructure during the Market Turbulence
2 Oct 2009
PSB Annual Report
– 2009
Initial margins are collected by the central counterparties to cover any losses arising in the close out of derivatives positions should a default occur. ... and a requirement to close out positions remaining unsettled on the fifth day after trade date.
https://www.rba.gov.au/publications/annual-reports/psb/2009/performance.html
Costs and Benefits of a Repo CCP – Issues for Consultation | Central Clearing of Repos in Australia: A Consultation Paper | Consultations
6 Mar 2015
Consultations
A CCP also offers the benefit of coordinated close out in the event of a participant default. ... If not, why not? Q23. Do you see benefit in settlement netting by line of security?
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/costs-benefits-repo-ccp.html
Oversight of Clearing and Settlement Facilities
2 Oct 2009
PSB Annual Report
– 2009
of cash equities trades, as a result of the netting of obligations in the batch. ... to close out the position in the market.
https://www.rba.gov.au/publications/annual-reports/psb/2009/oversight.html
Oversight of Clearing and Settlement Facilities
12 Sep 2014
PSB Annual Report
– 2014
Also taking into account multilateral netting of participants' obligations, average daily settlements between participants associated with these trades increased marginally in 2013/14 to $8.3 billion. ... Reflecting the lower liquidity of OTC derivatives
https://www.rba.gov.au/publications/annual-reports/psb/2014/oversight-clearing-set.html
The Australian Repo Market | Central Clearing of Repos in Australia: A Consultation Paper | Consultations
6 Mar 2015
Consultations
The GMRA provides for close-out netting in the event one of the counterparties defaults. ... Close-out netting allows an institution to terminate and settle the net value of all contracts with a particular counterparty immediately upon the occurrence of
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/australian-repo-market.html
Oversight of Clearing and Settlement Facilities
8 Sep 2011
PSB Annual Report
– 2011
This was larger than the 1 per cent fall in traded values, because transactions settled include settlement of non-market transactions and account for multilateral netting of clearing participants' obligations. ... ASX also formalised arrangements with
https://www.rba.gov.au/publications/annual-reports/psb/2011/oversight-clearing-settlement.html
Supervision of Clearing and Settlement Facilities
9 Oct 2015
PSB Annual Report
– 2015
ASX managed BBY's default through a combination of client transfers and the close out of remaining positions. ... The default of a participant alters this balance, exposing the CCP to potential loss until the CCP can successfully close out the defaulted
https://www.rba.gov.au/publications/annual-reports/psb/2015/supervision-of-clearing-and-settlement-facilities.html