Mastering securities lending documentation : a guide to the main European and US master securities lending agreements

Mastering securities lending documentation a guide to the main European and US master securities lending agreements

Securities lending master agreements are vital for covering securities loans between contracting parties. They also offer legal and credit protection and a close-out netting procedure if a party defaults or goes bankrupt. These agreements are widely used by banks, securities houses, pension funds, h...

Descripción completa

Detalles Bibliográficos
Otros Autores: Harding, Paul C., 1951- author (author), Johnson, Christian A., author
Formato: Libro electrónico
Idioma:Inglés
Publicado: Harlow, England : Financial Times Prentice Hall 2013.
Edición:1st edition
Materias:
Derivative securities.
Libros electrónicos.
Ver en Biblioteca Universitat Ramon Llull:https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009629413506719
Tabla de Contenidos:
  • Cover
  • Mastering Securities Lending Documentation
  • Contents
  • Acknowledgements
  • Publisher's acknowledgements
  • Preface
  • Introduction
  • History and development of the securities lending market
  • The short selling controversy
  • The Lehman Brothers collapse
  • How a securities lending transaction works
  • The importance of intermediaries
  • Reasons and strategies for borrowing securities
  • How a deal is done from start to finish
  • Basic tax issues for the UK
  • Basic tax issues for the US
  • Risks with securities lending
  • Differences between repos and securities loans
  • Legalissues: UK and US perspectives
  • UK perspective by Paul C. Harding
  • Legal capacity
  • Title transfer and recharacterisation risk
  • The enforceability of close-out netting
  • Agency arrangements
  • The English Law securities lending master agreements
  • The ICMA and SIFMA legal opinions
  • US perspective by Christian A. Johnson
  • Enforcement of New York Choice of Law
  • Enforceability of the US Master Securities Loan Agreement
  • US Bankruptcy and banking insolvency law
  • FDICIA
  • Legal capacity
  • Severability
  • Use of employee plan assets
  • The Global Master Securities Lending Agreement (2000)
  • Paragraph by paragraph analysis of the Global Master Securities Lending Agreement (2000) and its Schedule
  • Amendments sometimes proposed to the GMSLA 2000
  • UK Tax Addendum
  • The Clifford Chance Legal Opinion on the GMSLA 2000
  • The Global Master Securities Lending Agreement (2010)
  • ISLA's Securities Lending Set Off Protocol (March 2009)
  • Introduction to the Global Master Securities Lending Agreement (2010) and main differences from the GMSLA 2000
  • Paragraph by paragraph analysis of the Global Master Securities Lending Agreement 2010 and its Schedule
  • Agency Annex
  • Addendum for Pooled Principal Agency Loans
  • UK Tax Addendum.
  • The European Master Agreement
  • Background to the European Master Agreement (the "EMA")
  • Goals and benefits of the EMA
  • Structure of the EMA
  • Clause by clause analysis of the EMA
  • Comparison of the EMA with the GMSLA 2010
  • The US Master Securities Loan Agreement (2000)
  • Commentary on the Master Securities Loan Agreement (2000 Version) (the "MSLA")
  • Section by section analysis of the MSLA 2000
  • Annexes to the MSLA 2000
  • Schedules A and B of the MSLA 2000
  • The credit crunch and possible future developments in the securities lending market
  • Origins
  • What happened?
  • The current position
  • Possible future developments
  • Appendices
  • Bibliography
  • Index.

Ejemplares similares