麻豆传媒

Home   News   Features   Interviews   Magazine Archive   Symposium   Industry Awards  
Subscribe
麻豆传媒
Leading the Way

Global 麻豆传媒 Finance News and Commentary
≔ Menu
麻豆传媒
Leading the Way

Global 麻豆传媒 Finance News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Industry news
  3. Legal opinion updates released for GMSLA and GMRA
Industry news

Legal opinion updates released for GMSLA and GMRA


20 April 2022 Global
Reporter: SFT

Generic business image for news article
Image: AdobeStock/valdis torms
The International 麻豆传媒 Lending Association (ISLA) has released the 2022 netting opinions that support the Global Master 麻豆传媒 Lending Agreement (GMSLA) for transfer of title-based securities lending transactions.

ISLA indicates that its 2022 legal opinions have been finalised through a joint venture with the International Capital Market Association (ICMA) and are available to ISLA members that subscribe to the ISLA netting opinions service.

Its Master Confirmation Annex (MCA), which was released in November 2021 to support the GMSLA suite of documentation, has been covered in five jurisdictions, namely England, France, Germany, Switzerland and the Netherlands. This MCA offers a standard framework and set of terms that can be employed for 鈥渘on-standard鈥 trades such as evergreens and extendables.

ICMA has also announced publication of legal opinions which provide the foundation for use of the Global Master Repurchase Agreement (GMRA), the most widely employed legal agreement for international repo trades.

ICMA observes that financial regulators require securities finance transactions to be documented under robust written legal agreements like the GMRA, supported by legal opinions which are regularly updated, as a condition for recognising credit risk mitigation through exchange of collateral and use of close-out netting in calculating regulatory capital requirements.

It notes that these opinions provide ICMA members with exclusive access to a comprehensive body of legal guidance relating to the enforceability of the GMRA, and particularly GMRA netting provisions, in more than 60 jurisdictions.
Next industry article →

Convergence to acquire Double N Advisors
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 麻豆传媒 Finance Times
Advertisement
Subscribe today
Knowledge base

Companies in this article
→ ISLA

Explore our extensive directory to find all the essential contacts you need

Visit our directory →
Glossary terms in this article
→ ISLA
→ Collateral
→ Repo

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →