ICMA publishes a new GMRA annex and templates
14 December 2023 ICMA is pleased to announce the publication of a new annex and templates to accompany the 2000 and 2011 versions of the Global Master Repurchase Agreement (GMRA).
Developed by the ICMA Repo Legal Working Group, working with Linklaters, the following templates have been produced:
- Master Confirmation Annex
- Mini Close-out Notice
- Default Notice
- Termination Notice
- Amendment Agreement
Exclusively available to Members, the documents can be accessed here (your login details are required).
Developed following member feedback, the Master Confirmation Annex provides a standardised set of terms which can be used for ‘non-standard’ trade types, such as evergreens and extendables. ICMA has also instructed counsel in 20 jurisdictions to cover the Master Confirmation Annex in their analysis for the 2024 legal opinion updates.
The template form of notices and agreements have been produced to provide a reference point for parties who have not otherwise developed their own. The use of these templates is not mandatory, and members may use and/or adapt them as they deem necessary.
