Global Securities Financing: Improvement to eligibility criteria
14 May 2018
As part of our continuous improvement process, increased granularity and new criteria have been made available for the creation of collateral baskets within the Triparty Collateral Management Service.
For securities included within the list published by the ECB, collateral allocation can be managed using ECB Criteria alone or combined with our full suite of available fields.
Structured bond subtypes
The granularity of structured bond subtypes has been improved, to include:
- LN - Linked Notes
- ELN - Equity Linked Notes
- COCO - Contingent Convertible
To maintain integrity of signed collateral baskets, the new subtypes will be automatically excluded from baskets agreed and signed before this date. Customers wishing to include the new structured subtypes should contact their Relationship Officer.
Inflation Linked Notes (ILN)
Due to the high number of sovereign bonds issued with the characteristic “Inflation Linked Notes” , it is managed as a separate criteria.
Additionally, a number of criteria have been added, based upon:
- Issuer LEI
- Ultimate parental issuer LEI
- Issuer country of domicile
- Issuer country of incorporation
- Issuer country of risk
- Ultimate Parent Issuer (UPI) country of risk
- Loan participation notes
An updated CMSA Appendices for Collateral Receivers, for Premium users only, under Key Documents / ICSD / Global Securities Financing.
If you are interested in further information about any of our Global Securities Financing solutions, please contact our dedicated GSF team:
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