Template:M summ GMRA 5: Difference between revisions
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[[5 - GMRA Provision|The]] amount by which {{icmacds}} managed to balls up a really simple idea — that you have to pay over whatever you get on what you hold, on the day you get it, [[Gross up|grossed up]] — is really quite remarkable. Some [[ninja]] work here, make no mistake.<br> | [[5 - GMRA Provision|The]] amount by which {{icmacds}} managed to balls up a really simple idea — that you have to pay over whatever you get on what you hold, on the day you get it, [[Gross up|grossed up]] — is really quite remarkable. Some [[ninja]] work here, make no mistake.<br> | ||
Detail point: The [[manufacture]] of income, versus the accrual and payment of income, is the key difference between a [[Repo]] and a [[Buy/Sell Back Transaction - GMRA Provision|Buy/Sellback Transaction]]. Under a repo you manufacture income; under a buy/sellback you accrue [[interest]]. | |||
Latest revision as of 07:30, 6 June 2022
The amount by which ICMA’s crack drafting squad™ managed to balls up a really simple idea — that you have to pay over whatever you get on what you hold, on the day you get it, grossed up — is really quite remarkable. Some ninja work here, make no mistake.
Detail point: The manufacture of income, versus the accrual and payment of income, is the key difference between a Repo and a Buy/Sellback Transaction. Under a repo you manufacture income; under a buy/sellback you accrue interest.