NO.PZ2020033003000043
问题如下：
Litchi Bank and a large group company have signed many derivatives agreements. At present, the transaction settlement department of Litchi Bank calculates the mark to market value of the total position as $ -10 million. If this large group company defaults, which of the following clauses is most beneficial to Litchi Bank?
选项：
A.Cross product netting. B.Collateralization.
C.Tear up. D.Close-out.
解释：
考点：Managing and Mitigating Counterparty Risk （管理和降低交易对手风险）
解析：
因为现在盯市价格是负的，所以银行其实是亏钱的，如果此时这家大型集团公司违约，那么银行可以通过撤销（tear up），摆脱这一不利头寸，避免进一步损失，这是对银行最有利的。
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