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{{a|pgmsla|{{subtable|{{2018 GMSLA TOC}}}}}}===What is the [[Pledge GMSLA]]?=== | {{a|pgmsla|{{subtable|'''{{pgmsla}}'''<br>{{2018 GMSLA TOC}}}}}}===What is the [[Pledge GMSLA]]?=== | ||
The elegantly titled [[Global Master Securities Lending Agreement (Security Interest over Collateral 2018 version)]] — known to the friends it has rapidly made in the industry as the “'''[[Pledge GMSLA]]'''” is a version of the {{tag|GMSLA}} published in November 2018 and designed exclusively for [[Agent lender|agent lending]] arrangements. Instead of posting {{tag|collateral}} by [[title transfer]], the {{pgmslaprov|Borrower}} [[pledge]]s it. The {{pgmslaprov|Lender}} has a security interest over the collateral, but no right to [[reuse]] or otherwise deal with it. | The elegantly titled [[Global Master Securities Lending Agreement (Security Interest over Collateral 2018 version)]] — known to the friends it has rapidly made in the industry as the “'''[[Pledge GMSLA]]'''” is a version of the {{tag|GMSLA}} published in November 2018 and designed exclusively for [[Agent lender|agent lending]] arrangements. Instead of posting {{tag|collateral}} by [[title transfer]], the {{pgmslaprov|Borrower}} [[pledge]]s it. The {{pgmslaprov|Lender}} has a security interest over the collateral, but no right to [[reuse]] or otherwise deal with it. | ||