S&P Volatility Buffer means, for any Transaction, the related percentage set forth in the following table. The higher of the S&P short-term 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 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%
S&P Volatility Buffer means, for any Transaction, the related percentage set forth in the following table. The higher of the Remaining Remaining Remaining Remaining S&P credit rating Weighted Weighted Weighted Weighted of (i) Party A and Average Average Average Average (ii) the Credit Maturity Maturity Maturity Maturity Support Provider up to 3 up to 5 up to 10 up to 30 of Party A, if years years years years applicable ------------------------------------------------------------- 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% -------------------------------------------------------------
S&P Volatility Buffer means, for any Transaction, the related percentage set forth in the following table.
More Definitions of S&P Volatility Buffer
S&P Volatility Buffer means on any date, an amount equal to the product of (i) the relevant percentage specified in the applicable table in Appendix A or otherwise agreed between Party A and S&P as being applicable to swap transactions of a type and tenor (by reference to the legal final maturity date of a swap transaction) equivalent to the Transaction (provided that, for the purpose of identifying the equivalent tenor in the table in Appendix A, the tenor of the Transaction will, where necessary, be rounded up) and (ii) the Notional Amount of the relevant Transaction (as that term is defined in the Confirmation forming part of this Agreement).
S&P Volatility Buffer means, for any Transaction, the related percentage set forth in the following table. The higher of the S&P short-term credit rating of (i) Party A and (ii) the Credit Support Provider of Party A, if applicable At least “A-2”
S&P Volatility Buffer means, for any Transaction, the related percentage set forth in the following tables for S&P. 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 of such Transaction up to 3 years Remaining Weighted Average Maturity of such Transaction up to 5 years Remaining Weighted Average Maturity of such Transaction Up to 10 years Remaining Weighted Average Maturity of such Transaction 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% “Transaction Exposure” means, for any Transaction, Exposure determined as if such Transaction were the only Transaction between the Secured Party and the Pledgor.
S&P Volatility Buffer means, in respect of an outstanding Transaction, the applicable percentage set forth in the applicable table below. For Transactions relating to covered bonds issued in currencies under Currency Risk Group 1 (as defined under the S&P Criteria), use Table 1: . For Transactions relating to covered bonds issued in currencies under Currency Risk Group 2 (as defined under the S&P Criteria), use Table 2. For Transactions relating to covered bonds issued in currencies under Currency Risk Group 3 (as defined under the S&P Criteria), use Table 3. Table 1: Weighted Average Life of Transaction (years) Interest Rate Swaps Cross Currency Swaps Fixed to floating Floating to Floating Fixed to Floating Fixed to Fixed Floating to Floating Up to 3 8.5% 4% 10% 20% 5% Greater than 3 and less than or equal to 5 12.5% 5% 15% 30% 8% Greater than 5 and less than or equal to 10 15% 6% 18% 36% 9% Greater than 10 and less than or equal to 15 18% 7% 22% 44% 11% Greater than 15 21% 8% 25% 50% 13% Table 2: Weighted Average Life of Transaction (years) Interest Rate Swaps Cross Currency Swaps Fixed to floating Floating to Floating Fixed to Floating Fixed to Fixed Floating to Floating Up to 3 13% 6% 15% 30% 8% Greater than 3 and less than or equal to 5 19% 8% 23% 45% 12% Greater than 5 and less than or equal to 10 23% 9% 27% 54% 14% Greater than 10 and less than or equal to 15 27% 11% 33% 66% 17% Greater than 15 32% 12% 38% 75% 20% Table 3: Weighted Average Life of Transaction (years) Interest Rate Swaps Cross Currency Swaps Fixed to floating Floating to Floating Fixed to Floating Fixed to Fixed Floating to Floating Up to 3 17% 8% 20% 40% 10% Greater than 3 and less than or equal to 5 25% 10% 30% 60% 16% Greater than 5 and less than or equal to 10 30% 12% 36% 72% 18% Greater than 10 and less than or equal to 15 36% 14% 44% 88% 22% Greater than 15 42% 16% 50% 100% 26%
S&P Volatility Buffer means the applicable volatility buffer at that time determined (i) by reference to the related S&P Framework as set out in the tables entitled “S&P Volatility Buffers” in Appendix C below. For the purposes of determining the S&P Posting Amount at any time on or prior to the Final Maturity Date of the Covered Bonds, the Transaction that is a Cross Currency Swap and the Transaction that is an Interest Rate Swap shall constitute a single Transaction that is a fixed to floating Cross Currency Swap.
S&P Volatility Buffer means the percentage set forth in the following tables with respect to any Transaction: S&P Volatility Buffers for Interest Rate Caps (Percent of Notional) Interest Rate Cap tenor – remaining maturity (years) Caps (%) < 3 8.5 > 3 and < 5 12.5 > 5 and < 10 15.0 > 10 and < 15 18.0 >15 21.0 F-42 (m) Ratings Criteria.
S&P Volatility Buffer means, for any Transaction, the related percentage set forth in the following table. The higher of the S&P short-term credit rating of (i) Party A and (ii) the Credit Support Provider of Party A, if applicable Remaining Weighted Average Maturity [__________] [__________] [__________] [__________] At least "A-2" [__________] [__________] [__________] [__________] "A-3" [__________] [__________] [__________] [__________] "BB+" or lower [__________] [__________] [__________] [__________]