Volatility Buffer definition

Volatility Buffer means, with respect to a Transaction, an amount equal to the product of (a) the Factor applicable to the Transaction and (b) the Notional Amount of the Transaction.
Volatility Buffer means (a) if, on the date of determination, Party A has a short-term credit rating of "A-2" by S&P and the Termination Date of the Transaction will occur in less than 5 years, 3.25%, (b) if, on the date of determination, Party A has a short-term credit rating of "A-2" by S&P and the Termination Date of the Transaction will occur in less than 10 years but more than 5 years, 4.00%, (c) if, on the date of determination, Party A has a short-term credit rating of "A-3" by S&P and the Termination Date of the Transaction will occur in less than 5 years, 4.00%, (d) if, on the date of determination, Party A has a short-term credit rating of "A-3" by S&P and the Termination Date of the Transaction will occur in less than 10 years but more than 5 years, 5.00%, (e) if, on the date of determination, Party A has a long-term credit rating of "BB+" or lower by S&P and the Termination Date of the Transaction will occur in less than 5 years, 4.50%, or (f) if, on the date of determination, Party A has a long-term credit rating of "BB+" or lower by S&P and the Termination Date of the Transaction will occur in less than 10 years but more than 5 years, 5.75%. In the event Party A elects or is required to post collateral pursuant to Part 5(f) of the Schedule due to a ratings downgrade or withdrawal by S&P, the Valuation Agent shall verify its calculation of the Secured Party's Exposure on a quarterly basis by seeking two quotations from Reference Market-makers. If two Reference Market-makers are not available to provide a quotation, then fewer than two Reference Market-makers may be used for such purpose. If no Reference Market-makers are available, then the Valuation Agent's estimates at mid-market will be used. The Valuation Agent may not obtain the quotations referred to above from the same person in excess of four times during any 12 month period. Where more than one quotation is obtained, the quotation representing the greatest amount of Exposure shall be used by the Valuation Agent. In the event the verification procedures set forth above indicate that there is a deficiency in the amount of Eligible Collateral that has been Transferred to the Secured Party, the Pledgor shall Transfer the amount of Eligible Collateral necessary to cure such deficiency to the Secured Party within three Local Business Days.
Volatility Buffer means the percentage set forth in the following table with respect to any Transaction (other than a Transaction identified in the related Confirmation as a Timing Hedge): Notes’ Rating USD Interest Rate Swaps AA- or Better A+/A A-/BBB+ With respect to Moody’s:

Examples of Volatility Buffer in a sentence

  • Netting between Exposure and Volatility Buffer The 2012 Criteria permit netting between the volatility buffer and exposure when the mark-to- market of the transaction is in favor of the Swap Counterparty.

  • Volt-2 =the Realised Volatility of the Excess Return Index Level in respect of the second Index Business Day prior to Index Business Day t, as determined in accordance with paragraph 2.5 (Realised Volatility) below.VT Buffer=the Volatility Buffer (as specified in Part E (Data) below).


More Definitions of Volatility Buffer

Volatility Buffer means the percentage set forth in the following table with respect to any Transaction (other than a Transaction identified in the related Confirmation as a Timing Hedge): Weighted Average Life (Years) Notes’ Rating 1 2 3 4 5 6 7 8 9 10 11 12 13 14 >=15 USD Interest Rate Swaps AA- or Better 0.8 1.7 2.5 3.3 4.0 4.7 5.3 5.9 6.5 7.0 7.5 8.0 8.5 9.0 9.5 A+/A 0.6 1.2 1.8 2.3 2.8 3.3 3.8 4.2 4.6 5.0 5.3 5.7 6.0 6.4 6.7 A-/BBB+ 0.5 1.0 1.6 2.0 2.5 2.9 3.3 3.6 4.0 4.3 4.7 5.0 5.3 5.6 5.9 With respect to Moody’s:
Volatility Buffer means, for any Transaction, the related percentage set forth in the following table. The higher of the S&P credit rating of (i) Party A and (ii) the Credit Support Provider of Party A, if applicable Remaining Weighted Average Maturity up to 3 years Remaining Weighted Average Maturity up to 5 years Remaining Weighted Average Maturity up to 10 years Remaining Weighted Average Maturity up to 30 years “A-2” or higher 2.75% 3.25% 4.00% 4.75% “A-3” 3.25% 4.00% 5.00% 6.25% “BB+” or lower 3.50% 4.50% 6.75% 7.50%
Volatility Buffer means the percentage set forth in the following table with respect to any Transaction (other than a Transaction identified in the related Confirmation as a Timing Hedge): Short-term credit rating of Party A’s Credit Support Provider Remaining Weighted Average Life Maturity up to 3 years Remaining Weighted Average Life Maturity up to 5 years Remaining Weighted Average Life Maturity up to 10 years Remaining Weighted Average Life Maturity up to 30 years At least “A-2” 2.75 3.25 4.00 4.75 “A-3” 3.25 4.00 5.00 6.25 “BB+” or lower 3.50 4.50 6.75 7.50
Volatility Buffer means, for any Transaction, the related percentage set forth in the following table.
Volatility Buffer means the percentage set forth in the following table with respect to any Transaction (other than a Transaction identified in the related Confirmation as a Timing Hedge):
Volatility Buffer means, with respect to any Transaction at any time, the applicable percentage as specified in the applicable table (taking into account the rating of the most senior class of Notes, the rating of the short term senior unsecured debt obligations of Party A and the remaining period to the Termination Date of each Transaction at the time such Volatility Buffer falls to be determined) set out in the publication by S&P dated 17 December 2003 entitled "Global Interest Rate and Currency Swaps: Counterparty Rating Criteria expanded" and the publication by S&P dated 26 February 2004 entitled "Global Interest Rate and Currency Swaps: Calculating the Collateral Required Amount"3:
Volatility Buffer means, for any Transaction, the related percentage set forth in the following table. The higher of the S&P credit rating of (i) Party A and (ii) the Credit Support Provider of Party A, if applicable