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ISDA 2014 Collateral Agreement Negative Interest Protocol
The ISDA 2014 Collateral Agreement Negative Interest Protocol enables parties to amend the terms of amend certain ISDA-published collateral agreements to account for negative interest amounts on cash collateral such that if an interest amount for an interest period is negative, the party pledging cash collateral pays the absolute value of that interest amount to the other party for that interest period.
Please refer to the “Frequently Asked Questions” below for more information on the background and substance of the Protocol.
The Protocol is open to ISDA members and non-members. Parties will pay a one-time fee of $500 to ISDA to adhere to the Protocol. There is no cut-off date to this Protocol. ISDA does, however, reserve the right to designate a cut-off date by giving 30 days’ notice on this site.