Equivalent Securities - GMSLA Provision

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See

depending on your predilection. Good luck.

Commentary

The above comment assumes you're talking about a 2010 GMSLA.
Techy linguistic aside: Now here’s a funny thing. In the 2000 GMSLA, there were four defined terms relating to the Securities and Collateral that pass between the parties to a stock loan, all of them nouns:

But under the 2010 GMSLA, there are just three; two shorter nouns and an adjective:

This means you can move from the utterly tiring “Securities, Collateral, Equivalent Securities or Equivalent Collateral” which is fire-hosed throughout the 2000 GMSLA to the less offensive “Securities, Collateral or their Equivalents” in the 2010 GMSLA.[1] update to anat|gmsla

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Stock Loan owner’s manuals: GMSLA · Pledge GMSLA · OSLA

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GMSLA

2010 GMSLA: Full wikitext · Nutshell wikitext | GMLSA legal code
Pledge GMSLA: Hard copy (ISLA) · Full wikitext · Nutshell wikitext |
1995 OSLA: Full wikitext · Nutshell wikitext | GMSLA Netting
Let me Google that for you: Guide to equity finance | ISLA’s guide to securities lending for regulators and policy makers

  1. Well,you could have, but the drafters didn’t.