Consultation on the treatment of repurchase and reverse repurchase agreements

25/07/2012 to 25/09/2012

ESMA is seeking views on the appropriate treatment of repo and reverse repo arrangements in the context of the guidelines on ETFs and other UCITS issues.

This consultation paper sets out ESMA’s proposal for the treatment of repo and reverse repo arrange-ments. ESMA proposes a distinct regime for repo and reverse repo arrangements which, unlike for securities lending arrangements, would allow a proportion of the assets of the UCITS to be non-recallable at any time at the initiative of the UCITS. The proposed guidelines include safeguards to ensure that the counterparty risk arising from these arrangements is limited and that UCITS entering into such arrangements can continue to execute redemption requests.

ESMA will take into account the responses to this consultation in developing the final policy approach on repo and reverse repo transactions. That policy approach will be integrated into the remainder of the guidelines on ETFs and other UCITS issues, which are set out in Annex III of the paper.

Documents

Reference Date Type Title Download More Info
2012/474 25/07/2012 Final report Report and consultation paper on guidelines on ETFs and other UCITS issues View > See more

Responses

Activity Institution Download
AIMA View
Asset Management AMUNDI View
Asset Management Association Française de Gestion Financière View
Asset Management ASSOGESTIONI View
Asset Management BlackRock View
Asset Management BNP Paribas Asset Management View
Asset Management BVI View
Asset Management EFAMA View
Asset Management ICMA Asset Management and Investors Council View
Asset Management Investment Management Association View
Asset Management JPMorgan Asset Management (UK) Limited View
Asset Management Natixis Asset Management View
Asset Management OSSIAM View
Asset Management RBS Asset Management Limited View
Asset Management The International Securities Lending Association View
Asset Management THEAM View
Asset Management Union Asset Management Holding AG View
Banking Deutsche Bank View
Banking UBS View
Investment Services State Street Corporation View
Others ALFI (Association of the Luxembourg Fund Industry) View
Others Index Industry Association View
Regulated markets, exchanges & trading systems Eurex Clearing AG View