Template:AIFMD DR91(3): Difference between revisions

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{{aifmdprov|DR91(3)}}.  The items referred to in point (a) of paragraph {{aifmdprov|DR91(1)}} shall include: <br>  
{{aifmdprov|DR91(3)}}.  The items referred to in point (a) of paragraph {{aifmdprov|DR91(1)}} shall include: <br>  
:(a) the total value of assets held by the {{tag|prime broker}} for the AIF, where safe-keeping functions are delegated in accordance with Article {{aifmdprov|21(11)}} of Directive {{eudirective|2011|61|EU}}.
:(a) the total value of assets held by the [[prime broker]] for the AIF, where safe-keeping functions are delegated in accordance with Article {{aifmdprov|21(11)}} of Directive {{eudirective|2011|61|EU}}. The value of each of the following: <br>  
:(aa)<ref>The EU regulation seems to have a numbering issue. The [[JC]] has corrected this.</ref> The value of each of the following: <br>  
::(i) cash loans made to the {{aifmdprov|AIF}} and accrued interest; <br>  
::(i) cash loans made to the {{aifmdprov|AIF}} and accrued [[interest]]; <br>  
::(ii) securities to be redelivered by the {{aifmdprov|AIF}} under open short positions entered into on behalf of the {{aifmdprov|AIF}}; <br>  
::(ii) securities owed by the {{aifmdprov|AIF}} under open short positions; <br>  
::(iii) current settlement amounts to be paid by the {{aifmdprov|AIF}} under any futures contracts; <br>  
::(iii) [[Futures contract|futures]] settlement amounts owed by the {{aifmdprov|AIF}}; <br>  
::(iv) short sale cash proceeds held by the prime broker in respect of short positions entered into on behalf of the {{aifmdprov|AIF}}; <br>  
::(iv) cash proceeds of  short sales held by the [[prime broker]]; <br>  
::(v) cash margins held by the prime broker in respect of open [[futures]] contracts entered into on behalf of the {{aifmdprov|AIF]]. This obligation is in addition to the obligations under Articles {{aifmdprov|DR87}} and {{aifmdprov|DR88}}; <br>  
::(v) cash margin the [[prime broker]] holds for the {{aifmdprov|AIF}}’s open [[futures]] contracts;  This obligation is in addition to the obligations under Articles {{aifmdprov|DR87}} and {{aifmdprov|DR88}}; <br>  
::(vi) mark-to-market close-out exposures of any OTC transaction entered into on behalf of the {{aifmdprov|AIF}}; <br>  
::(vi) [[mark-to-market]] [[close-out]] exposures of the {{aifmdprov|AIF}}’s [[OTC]] transactions; <br>  
::(vii) total secured obligations of the {{aifmdprov|AIF}} against the [[prime broker]]; and <br>  
::(vii) the {{aifmdprov|AIF}}’s total secured obligations to the [[prime broker]]; and <br>  
::(viii) all other assets relating to the {{aifmdprov|AIF}}; <br>  
::(viii) all the {{aifmdprov|AIF}}’s other assets with the [[prime broker]]; <br>  
:(b) the value of other assets referred to in point (b) of Article {{aifmdprov|21(8)}} of Directive {{eudirective|2011|61|EU}} held as [[collateral]] by the [[prime broker]] in respect of secured transactions entered into under a prime brokerage agreement; <br>  
:(b) the value of other assets referred to in Article {{aifmdprov|21(8)}}(b) that the [[prime broker]] holds as [[collateral]] for secured transactions entered into under the [[prime brokerage agreement]]; <br>  
:(c) the value of the assets where the [[prime broker]] has exercised a right of use in respect of the {{aifmdprov|AIF}}’s assets; <br>  
:(c) the value of the assets the {{tag|prime broker}} has [[rehypothecate|rehypothecated]]; <br>  
:(d) a list of all the institutions at which the [[prime broker]] holds or may hold cash of the {{aifmdprov|AIF}} in an account opened in the name of the {{aifmdprov|AIF}} or in the name of the {{aifmdprov|AIFM}} acting on behalf of the {{aifmdprov|AIF}} in accordance with Article {{aifmdprov|21(7)}} of Directive {{eudirective|2011|61|EU}}. <br>
:(d) a list of all the institutions where the {{tag|prime broker}} holds the {{aifmdprov|AIF}}’s [[cash]] in the {{aifmdprov|AIF}}’s or {{aifmdprov|AIFM}}’s  name per Article {{aifmdprov|21(7)}}. <br>

Latest revision as of 13:30, 14 August 2024

DR91(3). The items referred to in point (a) of paragraph DR91(1) shall include:

(a) the total value of assets held by the prime broker for the AIF, where safe-keeping functions are delegated in accordance with Article 21(11) of Directive 2011/61/EU (EUR Lex). The value of each of the following:
(i) cash loans made to the AIF and accrued interest;
(ii) securities to be redelivered by the AIF under open short positions entered into on behalf of the AIF;
(iii) current settlement amounts to be paid by the AIF under any futures contracts;
(iv) short sale cash proceeds held by the prime broker in respect of short positions entered into on behalf of the AIF;
(v) cash margins held by the prime broker in respect of open futures contracts entered into on behalf of the {{aifmdprov|AIF]]. This obligation is in addition to the obligations under Articles DR87 and DR88;
(vi) mark-to-market close-out exposures of any OTC transaction entered into on behalf of the AIF;
(vii) total secured obligations of the AIF against the prime broker; and
(viii) all other assets relating to the AIF;
(b) the value of other assets referred to in point (b) of Article 21(8) of Directive 2011/61/EU (EUR Lex) held as collateral by the prime broker in respect of secured transactions entered into under a prime brokerage agreement;
(c) the value of the assets where the prime broker has exercised a right of use in respect of the AIF’s assets;
(d) a list of all the institutions at which the prime broker holds or may hold cash of the AIF in an account opened in the name of the AIF or in the name of the AIFM acting on behalf of the AIF in accordance with Article 21(7) of Directive 2011/61/EU (EUR Lex).
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