2010 Global Master Securities Lending Agreement
A Jolly Contrarian owner’s manual
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Section 5.5 in a Nutshell™
Use at your own risk, campers!
Full text of Section 5.5
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Template:M comp disc GMSLA 5.5
It will be a rum GMSLA indeed in which this provision applies. It will generally fall upon deaf ears, by dint of paragraph 5.4 (aggregate margining), which will apply instead unless you specifically override it, and it is hard to conceive of situations in which you would do that.
- 5.4, Collateralisation on aggregate, which will generally (for which read “inevitably”) be the preferred alternative for most financial institutions.