Addendum for Pooled Principal Agency Loans - GMSLA Provision

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GMSLA Anatomy™

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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

Index: Click to expand:

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Agency Addendum
Addendum 1 Scope (Agency Addendum)
Addendum 2 Interpretation (Agency Addendum)
Addendum 3 Modifications to the Agency Annex
Addendum 4 Allocation of Agency Loans
Addendum 5 Allocation of Collateral
Addendum 6 Pooled Principals: Rebalancing of Margin
Addendum 7 Warranties (Agency Addendum)
UK Tax Addendum
Tax Addendum 1 Disapplication of Previous Addendum (Tax Addendum)
Tax Addendum 2 Application of this Addendum (Tax Addendum)
Tax Addendum 3 Disapplication of Gross-Up (Tax Addendum)
Tax Addendum 4 Application of Warranties (Tax Addendum)
Tax Addendum 5 Manufactured Payments: Net Paying UK Securities (Tax Addendum)
Tax Addendum 6 Manufactured Payments: REIT Shares (Tax Addendum)
Tax Addendum 7 Manufactured Payments: PAIF Shares (Tax Addendum)
Tax Addendum 8 Interpretation (Tax Addendum)

So what’s this all about then?

The snappily-named Addendum for Pooled Principal Agency Loans is an addendum dealing with agent lenders who lend across a large portfolio of asset-rich clients (often private wealth management and high net worth clients from their investment management division) who are after a little bit of yield enhancement on their high-quality, low yield, assets. Margin is typically handled in a triparty collateral management system.

Quite a big business.