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A {{tag|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]]. | A {{tag|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 {{eureg|2015|2365}} also known, stiffly, as the [[securities financing transaction regulations]] | 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 to the {{tag|CASS}} rules, especially if your counterpart should ask for you to change or terminate one. | As indeed to the {{tag|CASS}} rules, especially if your counterpart should ask for you to change or terminate one. |