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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The Model

22 Nov 2016 RDP 2016-07
James Hansen and Angus Moore
For instance: we do not consider how networks affect the structure of risk and the efficiency of netting arrangements (e.g. ... Both have occurred in recent practice: SwapClear was able to close out the Lehman Brothers portfolio in 2008 without exceeding
https://www.rba.gov.au/publications/rdp/2016/2016-07/model.html
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Data and Exposure Analysis

29 Sep 2015 RDP 2015-02
Alexandra Heath, Gerard Kelly and Mark Manning
The future regulatory minimum in non-centrally cleared settings is ten days, reflecting the likelihood that it will be more difficult to close out positions in a decentralised setting than via ... Initial margin again increases with the assumed closeout
https://www.rba.gov.au/publications/rdp/2015/2015-02/data-exposure-analysis.html
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Model Framework

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
For participants i and j, let. represent the net obligation of i to j in product k that could accrue in the future over the close-out period. ... For a close-out period similar in length to the frequency over which variation margining is calculated,.
https://www.rba.gov.au/publications/rdp/2013/2013-12/model-framework.html
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Introduction

1 Dec 1994 RDP 9409
Marianne Gizycki and Brian Gray
the legal issue is the extent to which such close-out netting contracts are enforceable at law. ... Where such laws exist, close-out netting would have little meaning since, for the failed company, only favourable contracts would be recognised.
https://www.rba.gov.au/publications/rdp/1994/9409/introduction.html
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Traded-Debt Securities

1 Dec 1994 RDP 9408
Stephanie Weston and Brian Gray
Implicit in this approach is the assumption that a banks will suffer losses incurred over a month before acting to close out positions or taking other action to minimise losses. ... The counter argument to this is that in many instances, traders do not
https://www.rba.gov.au/publications/rdp/1994/9408/traded-deb-securities.html
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Data Description

21 Jun 2023 RDP 2023-05
Callan Windsor, Terhi Jokipii and Matthieu Bussiere
Around 1,500 banks across the 10 jurisdictions are examined, with a bank broadly defined as an institution whose business is to receive deposits and/or close substitutes and grant credits ... Securities include reverse repos and cash collateral, trading
https://www.rba.gov.au/publications/rdp/2023/2023-05/data-description.html
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The Benefits and Costs of Tiering

31 Dec 2012 RDP 2012-06
Robert Arculus, Jennifer Hancock and Greg Moran
In Australia, the. Payments Systems and Netting Act 1998. allows the RBA to protect payments that occur in RITS from the application of this rule, but payments settled across the books ... The materials on this webpage are subject to copyright and their
https://www.rba.gov.au/publications/rdp/2012/2012-06/benefits-costs-tiering.html

Reasons for Asset Market Illiquidity

27 Oct 2008 RDP 2008-06
Jonathan Kearns and Philip Lowe
Importantly, there can be close correlations between reductions in market liquidity and funding liquidity. ... been too close to those selling the assets.
https://www.rba.gov.au/publications/rdp/2008/2008-06/rea-for-asset-market-illiquidity.html
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Profits from Intervention

31 Dec 2004 RDP 2004-06
Chris Becker and Michael Sinclair
Realised trading profits are those that accrue from trades that act to close out part of an existing open position. ... Realised profits are calculated from any trade that acts in the direction of closing out the RBA's position in any one of the three
https://www.rba.gov.au/publications/rdp/2004/2004-06/profits-from-intervention.html

Research Discussion Papers

31 Dec 2001 RDP 2001-10
Susan Hornby and Ivan Roberts
9409. Gizycki MC and B Gray, ‘Default Risk and Derivatives: An Empirical Analysis of Bilateral Netting’. ... The materials on this webpage are subject to copyright and their use is subject to the terms and conditions set out in the Copyright and
https://www.rba.gov.au/publications/rdp/2001/2001-10/research-discussion-papers.html