Rate X and Rate Y definition

Rate X and Rate Y means, in relation to a SwapClear Transaction or a SwapClear Contract, the outstanding payment obligations of each party to the transaction, such that Rate X comprises the outstanding payment obligations of one party to the other and Rate Y comprises the outstanding payment obligations of the other party to the first party.
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Rate X and Rate Y means, in relation to an FCM SwapClear Transaction or an
Sample 1
Rate X and Rate Y means, in relation to an FCM SwapClear Transaction or an FCM SwapClear Contract, the outstanding payment obligations of each party to the transaction, such that Rate X comprises the outstanding payment obligations of one party to the other and Rate Y comprises the outstanding payment obligations of the other party to the first party. “Rate Change Annex” means, in relation to a change in the rate used for the calculation of Price Alignment Amount and for purposes of constructing the Clearing House’s zero coupon yield curves under 2.1.7 of the FCM Procedures to calculate the net present value of Impacted FCM SwapClear Contracts, any annex to the Procedures identified by the Clearing House in the related Rate Change Notice as being the “Rate Change Annex” applicable to such change. “Rate Change Effective Date” means, in relation to a change in an interest rate identified in a Rate Change Notice, the date on which such change shall take effect, as identified in the related Rate Change Notice. “Rate Change Notice” means a member circular delivered by the Clearing House to all SwapClear Members pursuant to 3.5.1 of the FCM Procedures, containing at least the following information:
Sample 1

Examples of Rate X and Rate Y in a sentence

  • Part III: Amendments to the General Regulations (SCM Rulebook) (at Exhibit A-1) To reflect the changes outlined above, the following Rules and Regulations have been amended: Definitions The definitions have been amended to reflect the inclusion of the definition for Account Assets, Associated Account Assets, Carrying Clearing Member, Executing Party, Execution Terms, Rate X and Rate Y, Receiving Clearing Member, Relevant SwapClear Contracts.

Related to Rate X and Rate Y

  • Reference Bond Rate means, with respect to any date of redemption, the rate per annum equal to the annual or semi-annual yield (as the case may be) to maturity or interpolated yield to maturity (on the relevant day count basis) of the Reference Bond, assuming a price for the Reference Bond (expressed as a percentage of its nominal amount) equal to the Reference Bond Price for such date of redemption;

  • LIBOR Rate Reserve Percentage means as of any day the maximum percentage in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including supplemental, marginal and emergency reserve requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency Liabilities”).

  • LIBOR has the meaning specified in the definition of Eurodollar Rate.

  • Floating Rate Margin means 7.50 per cent. per annum.