Repurchase Agreement Cssf

Posted by: In: Ikke kategoriseret 11 apr 2021 Comments: 0

The AEMF also stipulates that fixed-term (reverse) pension transactions lasting up to seven days are considered to be recallable at any time by the OPCVM. With regard to pension transactions (inverted), circular CSSF 08/356 already requires that the volume of pension transactions (reverse) be maintained so that the Luxembourg mutual fund is always able to fulfil its redemption obligations to shareholders and shareholders. According to the guidelines, UCITS must be able to do so at all times: Alfred Sawires has extensive experience advising clients in the legal, regulatory and organizational aspects of the creation, structuring, management and assistance of investment funds. He has acquired particular expertise in dealing with regulatory issues such as anti-money laundering and risk management requirements for investment funds and regularly assists clients in negotiating isda agreements. Circular CSSF 08/3563 already requires the Luxembourg mutual fund to lend its securities to the Luxembourg mutual fund to ensure that they are entitled to demand the return of the securities in a way that allows them to honour their shareholder/shareholder redemption obligations at any time. The guidelines now require oGAW more strictly to ensure that they are still able to recover all loaned guarantees or to terminate the securities loan agreements in which they were included. Circular CSSF 08/356 already required UCITS to provide in their financial reports the overall valuation of the securities borrowed and the total amount of open (reverse) pension transactions on the reference date of the reports. Although the guidelines do not expressly require this, mutual funds that have securities lending contracts may be required to amend such agreements, including to ensure that they can at any time recall securities or terminate the securities lending agreement at any time and meet the collateral management requirements of the guidelines (see item 1.4 above). (Conversely) Pension transactions must also be amended, in particular to allow the OPCVM to recall at any time the total amount of cash or securities or to terminate the contract at any time. UCITS that have ISDA agreements with counterparties with discretion over the mutual fund portfolio or the underlying assets of derivatives must have the necessary documentation to meet the requirements for the transfer of the investment management function by MUTUALos (see sections 1.3, 2.1.4 and 2.5.3 above).

There may be a need to amend ISDA supporting documents for credit assistance with respect to the collateral management requirements of the guidelines (see section 1.4 above). The guidelines expressly provide that the OPCVM`s liquidity risk management process takes into account the use of EPM techniques by the OPCVM to ensure that they are able to meet their repayment obligations at any time (see Section 2.6.1). UCITS that were created after February 18, 2013 must immediately comply with the guidelines. The guidelines provide that any UCITS ETF under the scope of the above definition is renamed to include the “UCITS ETF” identifier in its unit value. UCITS that do not meet this definition cannot use this identifier or use the terms “ETF” or “listed funds.”

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