  Collateralization with daily margining has become a new standard in the
post-crisis market. Although there appeared vast literature on a so-called
multi-curve framework, a complete picture of a multi-currency setup with
cross-currency basis can be rarely found since our initial attempts. This work
gives its extension regarding a general framework of interest rates in a fully
collateralized market. It gives a new formulation of the currency funding
spread which is better suited for the general dependence. In the last half, it
develops a discretization of the HJM framework with a fixed tenor structure,
which makes it implementable as a traditional Market Model.
