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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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

Central Clearing of Repos in Australia: A Consultation Paper

25 May 2015 Consultations PDF 389KB
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/pdf/201503-central-clearing-of-repos-in-australia.pdf

Central Clearing of Over-the-counter (OTC) Derivatives in Australia - June 2011

15 Jul 2011 Consultations PDF 875KB
A discussion paper issued by the Council of Financial Regulators
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/pdf/201106-otc-derivatives.pdf

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

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

Proposed Clearing Regime Design and Application | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
This provides scope to preserve netting benefits across multiple CCPs for market participants with large or complex clearing needs. ... For other participants, though, a reduction in cross-currency or cross-product netting opportunities may result in
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/proposed-clearing-regime-design.html

Box C: Foreign Currency Exposure and Hedging in Australia

10 Feb 2010 SMP – February 2010
This represents Australian residents' net demand for hedging liability exposures after the netting of offsetting liability and asset exposures among residents. ... Bulletin. , December, pp 1–10. The materials on this webpage are subject to copyright
https://www.rba.gov.au/publications/smp/2010/feb/box-c.html

Statement on Monetary Policy – February 2010 – Box C: Foreign Currency Exposure and Hedging in Australia

4 Feb 2010 SMP PDF 117KB
https://www.rba.gov.au/publications/smp/2010/feb/pdf/box-c.pdf

Central Clearing of Repos in Australia: Conclusions

28 Oct 2015 Consultations PDF 306KB
To maximise such netting benefits as were available, any repo CCP would ideally also clear outright purchases and sales. ... to support the commercial viability of any repo CCP and to maximise both netting opportunities and operational efficiencies.
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/conclusions/pdf/central-clearing-of-repos-in-australia-conclusions-2015-10.pdf