ISLA produces CSDR FAQs 06 July 2020London Reporter: Drew Nicol
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The International Íø±¬³Ô¹Ï Lending Association (ISLA) has published new ‘frequently asked questions’ documents covering the mandatory buy-in and cash penalties regimes of the Central Íø±¬³Ô¹Ï Depositories Regulation (CSDR).
CSDR’s settlement discipline regime, which includes the buy-in requirement and cash penalties, aims to improve transaction settlement rates and is scheduled to come into effect in February 2021.
The documents are available to all ISLA members and were produced in association with law firm Clifford Chance and explain the legislative background and requirements of CSDR’s regime.
They focus on how these requirements apply in respect of securities lending transactions entered into under a Global Master Íø±¬³Ô¹Ï Lending Agreement.
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