Triparty repo agreements

The government manages its liquidity by investing cash assets in short-term bank deposits and triparty repo agreements as well as placing funds with EU member countries. The government uses triparty repo agreements to invest its cash assets against collateral. It purchases book-entry bonds of EU member states with buy-sell back conditions. To date, the government has only operated on a triparty basis, meaning that the collateral management, property transfers and partially also funds transfers are outsourced to a triparty agent.

The government signs a Global Master Repurchase Agreement (GMRA) with banks, setting out the judicial relationships of the parties. In addition, the agreement parties and the triparty agent sign a Repurchase Service Agreement which sets out the relative responsibilities of all three parties in terms of service functions. These agreements form the operative framework.

Published 2013-03-07 at  14:33 , updated 2016-02-23 at  12:15
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