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OATs (Obligations assimilables du Trésor) are government bonds issued by Agence France Trésor (French Treasury), generally by auction according to an annual calendar published in advance.
The Official Journal of the European Union is a directory of official record. Legal acts published in the Official Journal are binding.
A trade with no fixed maturity date.
Over-the-counter or off-exchange trading is done directly between two parties, without the supervision of an exchange. It is contrasted with exchange trading, which occurs via exchanges.
With overcollateralisation, excess collateral is used to enhance credit in order to get a better debt rating from a credit rating agency. An issuer backs a loan with assets or collateral which has value in excess of the loan, thereby, limiting credit risk for the creditor and enhancing the credit rating assigned to the loan.
The agreement was developed as a market standard for stock lending prior to the creation of the Global Master Securities Lending Agreement. It was drafted with a view to complying with English law and has a legal opinion from Queen’s Counsel. Intended for use by UK-based parties lending overseas securities (i.e. excluding UK securities and gilts), it has since become the most widely used global master agreement.