Title transfer collateral arrangement: Difference between revisions
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 3: | Line 3: | ||
This has profound - some might say a bit barmy - consequences when one considers the {{eureg|2015|2365|EC}} (also known, stiffly, as [[The Regulation on Transparency of Securities Financing Transactions and of Reuse]], more casually, as the [[securities financing transaction regulations]] and fondly as {{tag|SFTR}}) which, at Article 15, have some things to say about {{tag|title transfer}} collateral arrangements and what you have to tell your counterparty about them. | This has profound - some might say a bit barmy - consequences when one considers the {{eureg|2015|2365|EC}} (also known, stiffly, as [[The Regulation on Transparency of Securities Financing Transactions and of Reuse]], more casually, as the [[securities financing transaction regulations]] and fondly as {{tag|SFTR}}) which, at Article 15, have some things to say about {{tag|title transfer}} collateral arrangements and what you have to tell your counterparty about them. | ||
As indeed do the {{tag|CASS}} rules, especially if your counterpart should ask for you to change or terminate one | As indeed do the {{tag|CASS}} rules, especially if your counterpart should ask for you to change or terminate one. | ||
Note also, there is a genus of lawyer (''[[Causidicus mediocris]]'') who frets that a [[TTCA]] might be [[recharacterised]] as a [[pledge]], with [[Omega|apocalyptic consequences]]. | |||
===See also=== | ===See also=== | ||
*[[pledged collateral arrangement]] | *[[pledged collateral arrangement]] | ||
*[[credit risk mitigation]] | *[[credit risk mitigation]] | ||
*[[Chicken Licken]] | |||
Revision as of 09:16, 10 August 2017
A collateral arrangement whereby, instead of instigating a pledge or security interest of some kind, a debtor provides cash or financial collateral to its creditor by means of title transfer.
This has profound - some might say a bit barmy - consequences when one considers the 2015/2365/EC (EUR Lex) (also known, stiffly, as The Regulation on Transparency of Securities Financing Transactions and of Reuse, more casually, as the securities financing transaction regulations and fondly as SFTR) which, at Article 15, have some things to say about title transfer collateral arrangements and what you have to tell your counterparty about them.
As indeed do the CASS rules, especially if your counterpart should ask for you to change or terminate one.
Note also, there is a genus of lawyer (Causidicus mediocris) who frets that a TTCA might be recharacterised as a pledge, with apocalyptic consequences.