Search: Close-out netting

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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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OTC Derivatives Reform: Netting and Networks | Conference – 2013

19 Aug 2013 Conferences
Alexandra Heath, Gerard Kelly and Mark Manning
values or at values reflecting any loss to the surviving party from replacing the trades (so-called close-out netting). ... Such losses arise when the market price of the contract moves adversely between the default event and the surviving counterparty's
https://www.rba.gov.au/publications/confs/2013/heath-kelly-manning.html

Box B: Central Clearing of Over-the-counter Credit Derivatives

10 Mar 2009 FSR – March 2009
were owed upon close-out, and in co-ordinating the decentralised replacement of defaulted trades. ... Lehman's open positions were ascertained quickly and unwound with little uncertainty regarding counterparty risk or disruption to the broader market,
https://www.rba.gov.au/publications/fsr/2009/mar/box-b.html

Promoting Liquidity: Why and How? | Conference – 2008

14 Jul 2008 Conferences
Jonathan Kearns and Philip Lowe
Importantly, there can be close correlations between reductions in market liquidity and funding liquidity. ... Particularly for structured finance products, which can be designed to adhere to the rating agency's ratings criteria, the close relationship
https://www.rba.gov.au/publications/confs/2008/kearns-lowe.html

Regulating the New Financial Markets | Conference – 1996

9 Jul 1996 Conferences
Richard Dale
This means that a troubled investment firm will generally be able to wind down its business in an orderly manner, meeting its obligations by prompt asset disposals at close to book ... The Group of Thirty has proposed minimum standards relating, inter
https://www.rba.gov.au/publications/confs/1996/dale.html

FSR Developments in the Financial System

10 Sep 2008 FSR – September 2008
Throughout the recent turmoil in financial markets the various regulators in Australia have been in close contact with one another. ... ASX has since increased the fees applying to failed trades and has announced prospective new arrangements for the
https://www.rba.gov.au/publications/fsr/2008/sep/dev-sys-infra.html

Submission to the Inquiry into the Corporations and Financial Sector Legislation Amendment Bill 2013 | Financial Sector | Submissions

1 Apr 2013 Submissions
This course of action will often be preferable, on both client protection and systemic risk grounds, to the alternative of close out of such positions. ... The proposed amendments to the. Payment Systems and Netting Act 1998.
https://www.rba.gov.au/publications/submissions/financial-sector/inquiry-corporations-and-financial-sector-legislation-amendment-bill-2013.html

Discussion on OTC Derivatives Reform: Netting and Networks | Conference – 2013

19 Aug 2013 Conferences
First, the benefits from netting exposures via CCPs are offset to the extent that there is a loss of netting available under bilateral arrangements. ... In the core-periphery model, netting benefits from CCPs accrue primarily to the core.
https://www.rba.gov.au/publications/confs/2013/heath-kelly-manning-disc.html

The Australian Securities and Investments Commission's Review of the EFT Code of Conduct – April 2006 | Responses and Options Paper

8 May 2024 Submissions
In addition to reducing the costs of duplication, consolidation of central counterparty and securities settlement activities would permit netting of obligations that would not be possible for participants operating in the ... This additional netting
https://www.rba.gov.au/publications/submissions/payments-system/proposed-asx-sfe-merger/index.html

Reforms to the Payment Systems (Regulation) Act 1998 Submission to Senate Economics Legislation Committee – February 2024 | Payments System …

23 Feb 2024 Submissions
The payments system mandate, powers and responsibilities of the RBA and the PSB are mainly set out in the Payment Systems (Regulation) Act 1998 (PSRA). ... Reserve Bank Act 1959. ;. Payment Systems and Netting Act 1998. ;
https://www.rba.gov.au/publications/submissions/payments-system/reforms-to-the-psra/index.html

Liquidity and Funding Markets

19 Aug 2013 Conference – 2013
The Reserve Bank of Australia 2013 conference, ‘Liquidity and Funding Markets’
https://www.rba.gov.au/publications/confs/2013/