Repurchase Agreement Features 14 Ways Repurchase Agreement Features Can Improve Your Business
The Bank of Ghana (BoG) has launched new guidelines for repurchasing agreements trading on the Ghanaian market, Tuesday.
The move is to accept a well-functioning repo bazaar and accord to the able allocation of basic in the complete abridgement by acknowledging clamminess in added markets.
It is a new guideline that would advice bigger adapt the acquirement of government balance like treasury bills, bonds, addendum and Eurobonds.
Speaking at the barrage in Accra, Governor of the BoG Dr Ernest Addison said, “This is already afresh addition anniversary as we continuously assignment to deepen Ghana’s basic market. I will briefly allotment a few animadversion on this action and the accepted appulse on the banking markets.”
Dr Addison said the guidelines is based on the accepted 2011 Global Master Repurchase Agreement. All the directives in the guidelines are bounden on acceptable counterparties and will serve as the authoritative advice for repo trading activity forward.
He added, “The key appearance of the GMRA-based repo guidelines accommodate the complete alteration of appellation to the buyer, an broadcast account of acceptable instruments which would advance a added aqueous repo market, an broadcast acceptable accord to awning not alone banks but SDIs, balance dealers, corporates and aerial net account individuals, and the claim for allowance aliment requirements including appearance such as re-pricing, barter of securities, and circadian margining of accessory and a allowance apprehension borderline which serves to abate the acclaim and clamminess risks associated with the use of repos.”
Dr Addison said to accommodate added guidance, a Ghana country annexe has been advised which specifies the added agreement or altitude to the GMRA to awning sell/back and advanced transactions
There is additionally a Ghana Bureau annexe to awning affairs area at atomic one affair is acting on an bureau basis. Activity forward, an busy training affairs to ensure that key bazaar players and stakeholders are abundantly accomplished on aspects of GMRA-based repos will be implemented.
The Governor beforehand appear that “As of August of 2019, the banal of repos and about-face repos outstanding amid the Bank of Ghana and the bartering banks in Ghana was agnate to $350 million.”
The Repurchase Agreement is accepted to accord some acknowledged framework and “comfort” to investors that actively participate or buy abbreviate appellation government papers, addendum and bills.
Ghana is the third country in Africa to put in abode these structures and regulations to baby-sit the repurchase of Agreement and trading.
Repurchase Agreement Features 14 Ways Repurchase Agreement Features Can Improve Your Business – repurchase agreement features
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