en

close-out netting

1

Terminological databases

EKI terminibaas Esterm

ID 727367 Last modified 30.12.2004
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Domain Financial Affairs - Taxation & Customs
tasaarveldus lõpetamise korral preferred
close-out netting preferred
  • a special form of netting which occurs following some predefined event such as default. Close-out netting is intended to reduce exposures on open contracts if one party meets certain conditions specified by the contract (e.g.becomes subject to insolvency procedures) before the settlement date (also referred to as default netting, open contract netting or replacement contract netting)
  • an arrangement to settle all contracted but not yet due liabilities to and claims on an institution by one single payment, immediately upon the occurrence of one of a list of defined events, such as the appointment of a liquidator to that institution. If such an event does not happen, then each trade is settled individually on due date unless the counterparties also have a supplementary obligation netting agreement. Close-out netting does not, by itself, reduce routine foreign exchange settlement exposures
tasaarveldus lõpetamise korral preferred
close-out netting preferred
Usage examples
  • In order to improve the legal certainty of financial collateral arrangements, Member States should ensure that certain provisions of insolvency law do not apply to such arrangements, in particular, those that would inhibit the effective realisation of financial collateral or cast doubt on the validity of current techniques such as bilateral close-out netting, the provision of additional collateral in the form of top-up collateral and substitution of collateral.

Riigi Teataja seadustes määratletud terminid (legaaldefinitsioonid)

ID 1157520 Last modified 23.04.2026
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  • (1) Lõpetamisel toimuv tasaarvestus käesoleva seaduse tähenduses on lõpetamist tingiva juhtumi korral poolte vahel tasaarvestuskokkuleppes varem kokkulepitud tingimuste kohaldamine tulenevalt ühe poole tahteavaldusest või tasaarvestuskokkuleppes nimetatud juhul automaatselt, mille käigus: 1) tasaarvestuskokkuleppega hõlmatud ühest või mitmest kvalifitseeruvast finantstehingust tulenevad mis tahes olemasolevad või tulevikus tekkida võivad eseme üleandmise õigused või kohustused või makseõigused või -kohustused lõpetatakse või nende kohustuste täitmist kiirendatakse; 2) arvutatakse iga käesoleva lõike punkti 1 alusel lõpetatud õiguse või kohustuse või õiguste või kohustuste rühma või kiirendatud täitmisega kohustuse või kohustuste rühma sulgemis-, turu-, likvideerimis- või asendusväärtus vastavalt tasaarvestuskokkuleppe tingimustele ning konverteeritakse iga selliselt arvutatud väärtus ühte valuutasse; 3) määratakse kindlaks ühe poole netonõue teise poole vastu, lähtudes käesoleva lõike punkti 2 alusel arvutatud väärtustest.
  • defineeritakse selle seaduse ulatuses
  • (1) For the purposes of this Act, close-out netting is the application of the conditions previously agreed between the parties in a netting agreement on the occurrence of a close-out event on the basis of the expression of will of one of the parties or, in a case specified in the netting agreement, automatically, in the course of which: 1) any existing or future transfer rights or obligations or payment rights or obligations arising from one or more qualifying financial transactions covered by the netting agreement are terminated or accelerated; 2) the closing, market, liquidation or replacement value of each right or obligation or group of rights or obligations terminated or accelerated on the basis of clause 1 of this subsection is calculated in accordance with the conditions of the netting agreement, and each value calculated in such manner is converted into a single currency; 3) the net claim of one party against the other party is determined on the basis of the values calculated in accordance with clause 2 of this subsection.
  • defined within the scope of this Act
close-out netting

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