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A credit support annex (CSA) is a document that defines the terms for the provision of collateral by the parties in derivatives transactions. It is one of four parts of a standard contract or master agreement developed by the International Swaps and Derivatives Association (ISDA).
It is a Credit Support Document under the ISDA Master Agreement to which it relates. The Annex is an annex to the ISDA Master Agreement, relying for its effectiveness principally upon the netting provisions of the ISDA Master Agreement.
The Credit Support Amount is the Secured Party's Exposure plus Pledgor's Independent Amounts minus Secured Party's Independent Amounts minus the Pledgor's Threshold.
The 2016 Credit Support Annex for Variation Margin (VM) is an updated version of the 1995 ISDA Credit Support Annex (Title Transfer English Law) that is limited to variation margin, and allows parties to establish variation margin arrangements that meet the requirements of new regulations on margin for uncleared
2016 ISDA VM CSA full text of Section Eligible Currency: Eligible Currency means each currency specified as such in Paragraph 11(a)(ii), if such currency is freely available.