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

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

Annex | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
Under the. Corporations Act 2001. , firms or persons that carry out financial services within Australia are generally required to have received an Australian Financial Services Licence (AFSL) from ASIC. ... In this way, an internationally active bank can
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/annex.html

Introduction | Central Clearing of Repos in Australia: A Consultation Paper | Consultations

6 Mar 2015 Consultations
In making its recommendation, the FSB noted that there was significant potential for central clearing to reduce the size of credit exposures through multilateral netting as dealers often had offsetting trades ... In particular, it will depend on each
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/introduction.html

Executive Summary | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
At the same time, these close linkages mean that overseas market and regulatory developments are an important force in shaping the Australian market. ... Fragmentation of clearing could see a reduction in netting opportunities and collateral efficiencies,
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/executive-summary.html