Sifma Form Dealer Agreement

Two sets of standard trading contracts designed for secured commercial documents issued pursuant to subsections 4(2) and 3(a)(3) of the Securities Act, respectively, and intended for use where one or more corporate guarantors are also responsible for the payment of principal and interest on the bonds. Standard contracts also contain a standard form of guarantee and standard advice from a guarantor`s advisor. Conservation: In order to protect public funds, public authorities should ensure appropriate securitisation practices with regard to the use of pension operations for investments. Custody must be carried out by an independent custodian or a third party. The obligations of the depositary (direct or tripartite parties) should be set out in a written retention agreement. Although public authorities are not bound by the Financial Accounting Standards Board (FASB), AFSB Statement No. 140 on counterparties to redeem transactions with governments. FASB Declaration No. 140, “Accounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities”, generally provides that, where the repo buyer (i.e.

the public body) has the right to sell or replace the securities, the repo seller (i.e. the bank or trader) does not have the right to replace the securities or terminate the contract in the short term. The repo buyer is required to account for both securities at the same time as any obligation to return the securities. The seller of securities is required to reclassify securities from a securities inventory or investment account to a securities guarantee account in its balance sheet. As a result, the nature of the underlying repo transaction may change from a buy-sell transaction to a secured loan. This change in the treatment of pensions as guaranteed loans would make them illegal for local governments in many countries. Master buyback contract. A master repo transaction is the contractual agreement concluded by a public body with a bank or counterparty. A form of agreement, also known as a framework agreement, can be obtained from the SIFMA website, formerly known as The Bond Market Association (TBMA). However, public authorities may wish to amend the form of SIFMA`s master buy-back contract in order to meet the specificities of their respective transactions.

An agreement on the maintenance of an omnibus account in accordance with Regulation T, a regulation adopted by the Board of Governors of the Federal Reserve System, governs clients` cash accounts and the extension of loans by brokers to clients for the purchase and carrying of securities. . . .

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