WASHINGTON (MNI) – The following is a text released Friday by the
New York Federal Reserve:
FRBNY Reverse Repurchase Program Form Master Repurchase Agreement
(MRA) for Money Market Mutual Funds, including Applicable Annexes
This agreement sets the legal terms and conditions under which
FRBNY and its money market mutual fund counterparties may undertake
reverse repurchase transactions. The base form is the Master Repurchase
Agreement published by SIFMA, available here:
http://www.sifma.org/services/stdforms/pdf/master_repo_agreement.pdf.
Following the SIFMA form format, Annexes I and II add the
customized terms and conditions for the FRBNY RRP Program, including the
auction format through which FRBNY intends to award transactions, and
provides the name and addresses for communications between the parties.
Annex VII, also following the SIFMA form, provides additional terms and
conditions that may be unique for registered investment companies. We
anticipate that the standard SIFMA Annexes III through VI are
inapplicable.
** Market News International Washington Bureau 202-371-2121 **
[TOPICS: M$U$$$,MGU$$$,MMUFE$,M$$CR$]