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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Financial Stability Standard for Central Counterparties
9 Mar 2023
This process is a form of novation (see definition below);. "close out" is the process of offsetting an existing contract by entering into a new contract of an equal and opposite ... have the ability to close out, or otherwise deal with a participant's
https://www.rba.gov.au/payments-and-infrastructure/financial-market-infrastructure/clearing-and-settlement-facilities/standards/central-counterparties/2009/ctrl-counterparties-std.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
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
Traded-Debt Securities
1 Dec 1994
RDP
9408
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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Appendix B: Detailed Assessment of the Reserve Bank Information and Transfer System | 2019 Assessment of the Reserve Bank Information and…
9 Mar 2023
Close-out netting provisions included in repo contracts with RITS members provide for the immediate liquidation of collateral in the event of default. ... In the event of insolvency, the close-out netting provisions included in the repo agreements allow
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2019/appendix-b.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
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
Transcript of Speech and Question & Answer Session on 23 April 2015
23 Apr 2015
Speech
Transcript of Question & Answer Session , London
https://www.rba.gov.au/speeches/2015/sp-ag-2015-04-23-q-and-a-transcript.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
Assessment of Clearing and Settlement Facilities against the Financial Stability Standards | 2014/15 Assessment of ASX Clearing and…
17 Aug 2023
ASX Clear conducts separate liquidity stress tests based on a range of close-out scenarios to establish whether the CCP has access to sufficient financial resources to meet potential payment obligations, ... in part reflects ASX's assessment of the
https://www.rba.gov.au/payments-and-infrastructure/financial-market-infrastructure/clearing-and-settlement-facilities/assessments/2014-2015/assessment-of-clearing-and-settlement-facilities-against-the-financial-stability-standards.html