ICMA releases new GMRA legal opinion for Ghana 08 August 2024Ghana Reporter: Carmella Haswell
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The International Capital Market Association (ICMA) has revealed the publication of a new Global Master Repurchase Agreement (GMRA) legal opinion for Ghana.
Following member requests, the association commissioned a legal opinion which covers the enforceability of the netting provisions of the GMRA, as well as the validity of the GMRA as a whole, under the laws of Ghana.
The legal opinion for Ghana can be accessed on the aosphere platform, along with 70 other legal opinions in ICMA’s GMRA legal opinion library.
The opinions provide ICMA members a business-critical service with access to a body of legal know-how regarding the enforceability of the GMRA and, in particular, the GMRA netting provisions in 71 jurisdictions globally, the association says.
Regulators require repo transactions to be subject to agreements like the GMRA, supported by regularly updated legal opinions, to reduce regulatory capital requirements through close-out netting, ICMA adds.
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