13 May 2016

Information Statement in accordance with Article 15 of the Securities Financing Transactions Regulation

The associations have set out below examples of the types of agreements to which this Information Statement applies. These examples are for illustrative purposes only and should not be relied upon as a legal determination of the characterisation of each agreement. The fact that an agreement is grouped with Title Transfer Collateral Agreements below does not preclude its characterisation as a Security Collateral Arrangement with a right of use and vice versa. Moreover, the characterization of an agreement may be different under U.S. and European law.

Title Transfer Collateral Arrangement

Such arrangements may include without limitation:

• Overseas Securities Lender's Agreement
• Global Master Securities Lending Agreement
• Global Master Repurchase Agreement
• SIFMA Master Repurchase Agreement
• An ISDA Master Agreement incorporating an English Law ISDA Credit Support Annex
• An ISDA/FIA Client Cleared OTC Derivatives Addendum which provides for title transfer collateral arrangements and in particular where entered into in connection with an English law governed ISDA Master Agreement which includes the English law CSA Collateral Terms as set out in Appendix 1 thereto, or when entered into in connection with a relevant FIA client clearing agreement
• Master Gilt Edged Stock Lending Agreement
• Master Equity and Fixed Interest Stock Lending Agreement
• Prime brokerage agreements which provide for title transfer collateral arrangements
• FIA client clearing agreements for exchange traded and other cleared derivatives which provide for title transfer collateral arrangements
• FIA Clearing Module which provides for title transfer collateral arrangements
• Any bespoke agreements granting security by way of transfer of title to the secured Party

Financial instruments held in a securities account at a broker-dealer or delivered to an FCM as margin (or “performance bond”) for a cleared derivative generally constitute Customer Assets. On the other hand, securities delivered to the associations under a repurchase or securities lending agreement generally do not constitute Customer Assets. If, with respect to Customer Assets received by the signatories as a broker-dealer, you separately agree to lend financial instruments to the signatories under a securities lending agreement, or agree to sell financial instruments to the associations under a repurchase agreement, then the financial instruments are removed from your account and are no longer eligible for customer protection. Any financial instruments delivered to the signatories under such transactions are Non-Customer Assets.

Full statement

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