Joint associations publish MRRA update
06 December 2023 Global
Image: chrupka/stock.adobe.com
The International Capital Market Association (ICMA), in collaboration with a group of associations, has published an update to the Master Regulatory Reporting Agreement (MRRA) and the accompanying Explanatory Memorandum.
The provides users with a template agreement for documenting regulatory reporting arrangements for securities financing transactions and derivatives entered into under industry standard documentation, such as the Global Master Repurchase Agreement (GMRA).
Originally published in 2019, the MRRA sets out common terms governing mandatory and delegated reporting of SFT transactions under the Íø±¬³Ô¹Ï Financing Transactions Regulation (SFTR), as well as derivatives transactions under the European Market Infrastructure Regulation (EMIR) compatible with changes introduced via EMIR Refit.
The recent updates to the agreement include changes in recognition that the UK SFTR and UK EMIR are now operational, and that UK SFTR does not apply to non-financial counterparties (NFCs).
Amendments to the description of the EMIR Reporting Annexes and to the Derivative Annex, in respect to collateral data, are also present in the revised version.
The updates were jointly published by the International Íø±¬³Ô¹Ï Lending Association (ISLA), International Swaps and Derivatives Association (ISDA), Futures Industry Association (FIA) and the Association for Financial Markets in Europe (AFME).
The provides users with a template agreement for documenting regulatory reporting arrangements for securities financing transactions and derivatives entered into under industry standard documentation, such as the Global Master Repurchase Agreement (GMRA).
Originally published in 2019, the MRRA sets out common terms governing mandatory and delegated reporting of SFT transactions under the Íø±¬³Ô¹Ï Financing Transactions Regulation (SFTR), as well as derivatives transactions under the European Market Infrastructure Regulation (EMIR) compatible with changes introduced via EMIR Refit.
The recent updates to the agreement include changes in recognition that the UK SFTR and UK EMIR are now operational, and that UK SFTR does not apply to non-financial counterparties (NFCs).
Amendments to the description of the EMIR Reporting Annexes and to the Derivative Annex, in respect to collateral data, are also present in the revised version.
The updates were jointly published by the International Íø±¬³Ô¹Ï Lending Association (ISLA), International Swaps and Derivatives Association (ISDA), Futures Industry Association (FIA) and the Association for Financial Markets in Europe (AFME).
← Previous regulation article
FINRA orders four firms to pay US$2.6 million for fully paid securities lending violations
FINRA orders four firms to pay US$2.6 million for fully paid securities lending violations
Next regulation article →
FSB publishes toolkit to enhance third-party risk management and oversight
FSB publishes toolkit to enhance third-party risk management and oversight
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Íø±¬³Ô¹Ï Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Íø±¬³Ô¹Ï Finance Times
