On Aug. 26, RUS NFA issued new model terms of REPO agreements.
RUS CB approved a new Model Terms of REPO Agreements on the financial market.
Summary
The document was created to update the existing documentation for over-the-counter REPO transactions and in response to changes in market practices and regulations.
The regulator has set the transition period for updating the documentation, in order to ensure the convenience of participants in the Russian REPO market, is 180 days.
RUS NFA plans begin developing a new version of the standard NFA Master Agreement on general terms for entering into REPO agreements in the securities market, which will be based on the new Model Terms of REPO Agreements on the financial market.
Effectiveness
The Model Terms (third version) may be applied to the terms of Master REPO Agreements, as well as REPO Contracts, starting from Feb. 23, 2025.
Also RUS NFA members are advised that from Feb. 23, 2025 Law 39-FZ on the securities market will no longer apply to the Model Terms of REPO Agreements