I have been out of the market for quite some time and I see that nowadays discounting is a more complicated discipline.
For collateralized trades I do understand the standard method is to use discounting based on curve associated with the collateral index rate. So if we have EUR cash-flow and collateral in EUR, we would use some EUR OIS curve for the discounting.
However, I'm not sure what's the current market practice for:
- discounting USD cash flow in a pool collateralized in EUR. What curve should be used for this discounting?
- discounting uncollateralized cash flow. Now that xBOR rates are being phased out, what rate to use for uncollateralized cash flow?