
Amendments to CSAs to Update Interest Rates on Cash Collateral to Reference New Alternative Rates
ISDA® have published the Collateral Agreement Interest Rate Definitions in order to allow parties to incorporate standardised definitions relating to overnight interest rates into their ISDA® credit support annexes ('CSAs'). These new definitions include fallbacks which apply if a relevant benchmark (which is referenced in a CSA and which incorporates the Collateral Agreement Interest Rate Definitions) is permanently discontinued, or temporarily fails to be published. One can