International Swaps and Derivatives Association and Outright Monetary Transactions: Difference between pages

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(ISDA). The industry body responsible, among other things, for standardising swap documentation. 
(OMT).


The terms of swaps are normally governed by a minimum of two documents: a Master Agreement (often referred to simply as an ‘ISDA’) and a confirmation of the specific details of a particular trade (the ‘confirmation’).
Part of the [[open market operations]] of a central bank in which the central bank buys or sells securities outright - i.e. without the re-sale or re-purchase legs of [[reverse repurchase agreement]]s or [[repurchase agreement]]s.


Formerly the International Swap Dealers Association.
This was a new tool for the European Central Bank in 2012 - and controversial, especially in Germany - though its use by other banks has not been so dogged by controversy.
 
== See also ==
* [[Credit default swap]]
* [[Credit support annex]]


[[Category:Risk_frameworks]]

Revision as of 19:06, 28 August 2014

(OMT).

Part of the open market operations of a central bank in which the central bank buys or sells securities outright - i.e. without the re-sale or re-purchase legs of reverse repurchase agreements or repurchase agreements.

This was a new tool for the European Central Bank in 2012 - and controversial, especially in Germany - though its use by other banks has not been so dogged by controversy.

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