The collateral currency set in a CSA and the interest paid on cash collateral affect the discount rate used to value collateralized trades. For a trade in which cash collateral covering the full market value is exchanged continuously, future cash flows are discounted at the rate paid on the collateral.
Credit support annex
- Japanese
- クレジット・サポート・アネックス
- Also known as
- CSA
- Last reviewed
- September 26, 2026
This is a draft, shown for review before publication.
A credit support annex (CSA) is a clause attached to the master agreement for OTC derivatives that sets the terms for exchanging collateral. It sets items such as the amount up to which no collateral is required (the threshold), the minimum transfer amount, how often positions are marked to market, and which assets can be used as collateral.
Related terms
Explained in detail
Pages that use this term
- What Is Counterparty Credit Risk?
- Risk Reduction through Netting and Collateral
- Credit Limit Management
- Funding Variation and Initial Margin
- Handling Margin Calls
- Sourcing and Substituting Collateral
- KYC and Credit Review
- Collateral Operations
- Choosing the Booking Entity
- The ISDA Master Agreement and Schedule
- ISDA Protocols
- Events of Default and Termination Events