‘Repos’ & Financial Markets - Examining the Global Master Repurchase Agreement

Introduction

Repurchase transactions (repos) are a form of short-term (secured) borrowing/lending. They are widely used in financial markets as a source of short-term financing, as well as a way to invest surplus funds and manage liquidity.

The Global Master Repurchase Agreement (GMRA) is the main agreement used to document repurchase transactions. As such, it is a key contract used in financial markets.

This virtual classroom seminar will explain what repos are, how the GMRA works and discuss some of the commonly negotiated provisions.

What You Will Learn

This live broadcast will cover the following:

• Background concepts
• The margining processes
• Key definitions within the GMRA
• Purchase Price
• Purchased Securities
• Purchase Date
• Repurchase Date
• Repurchase Price
• Price Differential
• Pricing Rate
• Transaction Exposure
• Margin Ratio
• Net Exposure
• Net Margin
• Income Payments
• Short squeezes
• Substitutions
• Defaults and close-out
• Some commonly negotiated provisions within Annex I

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.