A securities lending facility for the Republic of Finland benchmark bonds (RFGBs) is available for eligible (GMRA) counterparties.
The State Treasury lends serial bonds with benchmark status overnight via repurchase agreements. Lending is available against cash only. Please see detailed criteria for the repo facility in the table below.
|Available to||GMRA (Global Master Repurchase Agreement) counterparties in Finnish Government Bonds|
|Securities||RFGB benchmark bonds, facility not available on coupon payment dates and year-end. STF to decide when facility is available, see ThomsonReuters SUVE and Bloomberg STF screens|
|Amounts available||Min EUR 5 000 000
Max EUR 200 000 000 per counterparty
|Value date||Same day value|
|Timing||No later than 1:00 PM CET|
|Term||O/N only, transactions are concluded for 1 trading day with rolling maximum 4 consecutive trading days|
|Trading days||TARGET, Helsinki|
|Pricing||Most recent €STR quote minus a spread. Additional negative spread from 3rd rolling day.|
|Spread||0.5%, additional spread 0.25% from 3 rd rolling day.|
|Pricing source||Market value is calculated on Bloomberg on basis of most recent ask price (lowest yield) for RFGB.|
|Margin||Margin ratio: none|