1995 Overseas Securities Lender’s Agreement

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OSLA

Call that a short? That’s not a short. This is a short.

Docs Vague, arcane, outdated and no netting airbags. 4
Amendability Bilateral, so yes, in theory — but more likely to tip out and sign up a fresh GMSLA. 2
Collateral Yes. Could be stocks, bonds — anything. 1
Transferability bilateral. Homey don’t ride that bus. 0
Leverage Fully cash collateralised, but a bonus point for the contra-flow collateral haircut. The lender net borrows from the borrower. Nice. 1
Fright-o-meter Generally sleepy “pluming of the financial, system” material, but shortsville, generally anachronistic and no netting, so GameStop freakout territory. 5

2010 GMSLA: Full wikitext · Nutshell wikitext | GMLSA legal code | GMSLA Netting

Pledge GMSLA: Hard copy (ISLA) · Full wikitext · Nutshell wikitext |
1995 OSLA: OSLA wikitext | OSLA in a nutshell | GMSLA/PGMSLA/OSLA clause comparison table
From Our Friends On The Internet: Guide to equity finance | ISLA’s guide to securities lending for regulators and policy makers

Navigation
2010 GMSLA 1 · 2 · 3 · 4 · 5 · 6 · 7 · 8 · 9 · 10 · 11 · 12 · 13 · 14 · 15 · 16 · 17 · 18 · 19 · 20 · 21 · 22 · 23 · 24 · 25 · 26 · 27 · Schedule · Agency Annex · Addendum for Pooled Principal Agency Loans

2018 Pledge GMSLA 1 · 2 · 3 · 4 · 5 · 6 · 7 · 8 · 9 · 10 · 11 · 12 · 13 · 14 · 15 · 16 · 17 · 18 · 19 · 20 · 21 · 22 · 23 · 24 · 25 · 26 · 27 · 28 · Schedule · Agency Annex

Stock lending agreement comparison: Includes navigation for the 2000 GMSLA and the 1995 OSLA

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