Consultation on the treatment of repurchase and reverse repurchase agreements

Consultation on the treatment of repurchase and reverse repurchase agreements

from 25 July 2012 to 25 September 2012

Details

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.

1 RELATED DOCUMENTS
Document available for this Consultation
DateReferenceTitleDocument
25/07/20122012/474Report and consultation paper on guidelines on ETFs and other UCITS issues

Responses

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