Christian A. Johnson, J.D.

Professor and Faculty Director, Business Law Center

The Guide to Using and Negotiating OTC Derivatives Documentation

 
Institutional Investor Books; publication date: 2005
(ISBN 1-84374-195-4) 

Synopsis
(From the Publisher): Make sure you completely understand the ISDA Agreements and how to apply them in OTC derivatives transactions.

How does the 2002 Master Agreement differ from earlier Agreements?
What are the key issues in using and negotiating the Agreements?

Everything you need to know about OTC derivatives transactions in one easy guide!

An accurate, complete and efficient source for information about the salient business, credit and legal issues in OTC derivatives documentation.

The same practical advice you expect from weekly Learning Curves in one new volume.

This book is your complete guide to

  • a detailed explanation of how the Commodity Exchange Act affects OTC derivatives
  • summary of the accounting for derivatives and the effect of FAS 133
  • collateral issues
  • events of default and calculation of damages
  • insolvency and bankruptcy of counterparties
  • withholding tax considerations
  • modifying loan documentation to take into account a borrower's use of derivatives

 

Includes a reproduction of the ISDA Agreement and selected reading lists at the end of each chapter, providing you with sources for more technical discussions.

Ideal for lawyers and documentation specialists as a quick resource to use during negotiations and for those wanting to understand the basic issues in OTC derivatives documentation.

From the Editors of Derivatives Week and Institutional Investor Books.

 

Practical Guide to Using Repo Master Agreements

co-authored with Paul C. Harding
Euromoney Books; publication date: 2004
(ISBN 1-84374-120-2)

Synopsis
(From the Publisher): Your complete, line-by-line guide to the TBMA/ISMA Global Master Repo Agreement, the US Master Repo Agreement and the European Master Agreements.

This book also provides you with a detailed examination of

  • the rapid expansion of the repo market,
  • triparty repos and other products, and
  • a review of legal issues.

 

Includes reproductions of all the relevant documents.

For both seasoned practitioners and newcomers to the market.

"Using Repo Master Agreements is the preeminent reference guide for lawyers and others who must navigate through the complexities of understanding and documenting repos and related custodial agreements." - Future & Derivatives Law Report, May 2005

"There's more to repo master agreements than meets the eye. Paul Harding and Christian Johnson provide an illuminating guide to the legal and practical issues that concern both front office and negotiators. The book is invaluable to those who are new to this field, and a fresh look at these well-established master agreements is a good idea for anyone in the industry." - Kurt Crommelin, Head of Legal, Bayerische Hypo- und Vereinsbank AG, London

"The combination of an overview of the market and legal issues, coupled with the detailed analysis of the major market agreements and commonly negotiated provisions, will provide a valuable training guide and reference book in an area where negotiation and complexity is increasing. The review of the core general and margin provisions of the EMA, which apply to all their product annexes, will also prove of wider use to derivative and securities lending negotiators." Keith Spiller, Executive Director -Traded Products Legal, UBS Investment Bank.

 

Mastering Collateral Management and Documentation: A Practical Guide for Negotiators

co-authored with Paul C. Harding
Financial Times/Prentice Hall; publication date: 2002
(ISBN 0-273-65924-3)

Synopsis
(From the Publisher): "In response to the continuing and growing use of collateral by banks and other financial institutions, this is the first comprehensive book on the subject. This practical guide provides negotiators with a clear, concise explanation of the topic, from an operational perspective and with particular focus on the five ISDA Credit Support Documents. Collateral is now big business. In January 2001 the International Swaps and Derivatives Association, Inc. (ISDA) calculated that between US$175-200 billion was pledged as collateral to protect credit exposure in the derivatives market. The authors estimate that 20-25% of interest rate and currency swap trades are now covered by collateral. This book describes collateral documentation in jargon-free, concise terms making it the must have book for all junior and experienced negotiators in this field."