Manufactured payments in respect of Loaned Securities - GMSLA Provision: Difference between revisions
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{{ | {{gmslaanat|6.2}}In other words the {{gmslaprov|Borrower}} pays what the {{gmslaprov|Lender}} would have received net, by reference to the Lender's own situation. This means that the {{gmslaprov|Lender}} doesn't need to worry about different rates of tax or withholding applying to the {{gmslaprov|Borrower}}. Makes sense, really. | ||
{{nuts|GMSLA|Manufactured payments in respect of Loaned Securities}} | {{nuts|GMSLA|Manufactured payments in respect of Loaned Securities}} |
Revision as of 15:01, 16 July 2018
GMSLA Anatomy™
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In other words the Borrower pays what the Lender would have received net, by reference to the Lender's own situation. This means that the Lender doesn't need to worry about different rates of tax or withholding applying to the Borrower. Makes sense, really.
Manufactured payments in respect of Loaned Securities in a Nutshell™ (GMSLA edition)
6.2 Where a Loan extends over an Income Record Date, on the distribution date the Borrower must manufacture the Income the Lender would have received had it held the Loaned Securities on the Income Record Date.