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Repo news

ICMA releases 2023 GMRA legal opinion updates


13 April 2023 Switzerland
Reporter: Lucy Carter

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Image: Blue Planet Studio/stock.adobe.com
The International Capital Market Association (ICMA) has released the 2023 legal opinion updates for the Global Master Repurchase Agreement (GMRA), discussing its enforceability and netting provisions.

In order to recognise credit risk reduction by collateral and close-out netting in regulatory capital requirement and large exposure calculations, regulators demand repo transactions to be documented under robust written legal conditions, such as the GMRA, with regularly updated legal opinions.

Legal opinions on the GMRA are updated annually, and cover more than 60 jurisdictions.

The updates provide a business-critical service for GMRA-related activities, offering ICMA members a comprehensive list of legal opinions and ensuring that they are complying with regulatory conditions.
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