Fixed Rate and Open Repurchase Agreement Sample Clauses

Fixed Rate and Open Repurchase Agreement. A fixed rate open repurchase agreement has a fixed rate and an open maturity date. The initiation message should suffice to settle the opening exchange of securities collateral and cash. A cancellation message is required with a call indicator to cancel the initiation instruction in order to allow for the termination to be instructed (also with a call indicator). The call indicator should serve as an amendment rather than true cancellation as the Accounting Agent will need to maintain the accrual history on the repo. To support the close out of this type of agreement the following additional business elements will be required: - Previous Reference - this will link the cancellation and close messages to the initiation message - Repurchase Type Indicator – this will indicate why the initiation instruction is being cancelled (call) and the closing instruction is being sent (call)
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Fixed Rate and Open Repurchase Agreement. To instruct a fixed rate open repurchase agreement an MT543- deliver versus payment should be used. :98B::TERM//OPEN :22F::RERT//FIXE :20C::REPO//REPOREF :22F::SETR//REPU
Sample 1

Related to Fixed Rate and Open Repurchase Agreement

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