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}}. The value of each of the following: <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}}. | ||
::(i) cash loans made to the {{aifmdprov|AIF}} and accrued interest; <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> | ||
::(ii) securities | ::(i) cash loans made to the {{aifmdprov|AIF}} and accrued [[interest]]; <br> | ||
::(iii) | ::(ii) securities owed by the {{aifmdprov|AIF}} under open short positions; <br> | ||
::(iv) | ::(iii) [[Futures contract|futures]] settlement amounts owed by the {{aifmdprov|AIF}}; <br> | ||
::(v) cash | ::(iv) cash proceeds of short sales held by the [[prime broker]]; <br> | ||
::(vi) mark-to-market close-out exposures | ::(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> | ||
::(vii) | ::(vi) [[mark-to-market]] [[close-out]] exposures of the {{aifmdprov|AIF}}’s [[OTC]] transactions; <br> | ||
::(viii) all | ::(vii) the {{aifmdprov|AIF}}’s total secured obligations to the [[prime broker]]; and <br> | ||
:(b) the value of other assets referred to in | ::(viii) all the {{aifmdprov|AIF}}’s other assets with the [[prime broker]]; <br> | ||
:(c) the value of the assets | :(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> | ||
:(d) a list of all the institutions | :(c) the value of the assets the {{tag|prime broker}} has [[rehypothecate|rehypothecated]]; <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> | |||
Revision as of 14:28, 28 June 2019
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).
- (aa)[1] The value of each of the following:
- (i) cash loans made to the AIF and accrued interest;
- (ii) securities owed by the AIF under open short positions;
- (iii) futures settlement amounts owed by the AIF;
- (iv) cash proceeds of short sales held by the prime broker;
- (v) cash margin the prime broker holds for the AIF’s open futures contracts; This obligation is in addition to the obligations under Articles DR87 and DR88;
- (vi) mark-to-market close-out exposures of the AIF’s OTC transactions;
- (vii) the AIF’s total secured obligations to the prime broker; and
- (viii) all the AIF’s other assets with the prime broker;
- (i) cash loans made to the AIF and accrued interest;
- (b) the value of other assets referred to in Article 21(8)(b) that the prime broker holds as collateral for secured transactions entered into under the prime brokerage agreement;
- (c) the value of the assets the prime broker has rehypothecated;
- (d) a list of all the institutions where the prime broker holds the AIF’s cash in the AIF’s or AIFM’s name per Article 21(7).