The Replacement Repo Contract Sample Clauses

The Replacement Repo Contract. ‌ The smart contract simulates a reorganization of the initial repo contracts into chains. We explain the method by which this is accomplished in Section 7 below. The smart contract cannot add or subtract to the volume of T contained in the initial repo contract between two agents. All it can do is to partition the contract. The purpose of dong this is to reorganize transactions into chains. Drawing from the example above, suppose that BDj was additionally a repo borrower from an agent BDl for a volume T . The smart contract might split up BDi’s contracts such that BDi was a borrower of T from BDl (in effect a RMi) at the end of chain 1, and a borrower and lender of T on chain 2 where its neighbors are BDi and BDk. Having organized the transactions into chains, the replacement repo contracts are implemented. On chain 1 BDj is a contracting party (with the MM node at 17The guarantor is also required to add to its assets any fee it is scheduled to receive at the second-leg. We are focused on the SLR, which is not impacted by assets.‌ 18See pp.33-36 of Xxxxx Xxxx (2014) (12) 19It should be noted that a given increase in liabilities will reduce the SLR by more than an increase in assets, so long as assets are greater than equity, since dSLR / dSLR = A/e > 1. Therefore, de dA the effect described in the text holds because the absolute value of the decrease in assets exceeds the increase in liabilities - equivalently the decrease in equity - by an order of magnitude. the other end of the chain). On chain 2, BDj is a guarantor. We explain the details of the guarantee in Section 8.
Sample 1
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