Reclassification of amortization of net deferred losses on de-designated interest rate swaps to repurchase agreements
Most banks took this opportunity to review their master repurchase agreement
and ensure that the language transfers control of sold securities to the buyer.
The proceeds generated from the sale of the GICs are held in cash or invested in repurchase agreements
and are accompanied by balance guarantee swaps provided by UniCredit Bank AG (UniCredit) pursuant to Hedge Agreements.
Investors have raised concerns that current accounting and disclosures for repurchase agreements
do not appropriately reflect the transferor's obligations and risks resulting from those transactions in certain circumstances," stated FASB Chairman Leslie F.
Proceeds from the unwind of existing repurchase agreement
transactions, along with $332 million of existing liquid investments held with BONY, are expected to be invested in overnight deposits with BONY until there is greater clarity with respect to the Pallas' near-term repayment obligations.
Under the Share Repurchase Agreement
, Rambus will pre-pay to JP Morgan the $90 million purchase price for common stock and JP Morgan will deliver to Rambus a number of shares of its common stock.
announced today that it has signed an accelerated share repurchase agreement
with Citigroup for the repurchase of 52.
6 million of thirty-day repurchase agreement
financing at a rate of 1.
The preliminary ratings are based the adequate level of subordination underneath each class of notes; the amount of "excess spread" injected in the transaction by KBC Bank NV (KBC; single-'A'-plus/Stable/'A-1') through swap counterparty payments; the sound mechanics of the repurchase agreement
and the credit default swap; the characteristics of the securities of the Kingdom of Belgium (double'A'-plus/Stable/'A-1'-plus) as collateral; and the sound legal structure of the transaction.
For example, a combined financial instrument created by selling a government security short and borrowing the security under a reverse repurchase agreement
with a term approaching the maturity of the underlying government security would create contractual cash flows that may measure the value of the combined financial instrument.
For instance, the market value of the securities that the Fund is obligated to repurchase under a reverse repurchase agreement
may decline below the repurchase price and the securities may not be returned to the Fund.
transactions entered into by the funds may be conducted through joint acccounts with other funds managed by FMR.