Overseas stock lending agreement

The Global Master Securities Lending Agreement (GMSLA) document may be used as a standard master agreement for securities lending transactions in the cross-border market. The GMSLA in now available in two forms; title transfer and a security interest version which was released to the market at the end of 2018. ISLA has provided the legal standard framework for the securities lending industry since the early 90’s. The GMSLA has become the standard legal agreement in the European markets, the latest release being the 2018 Security Interest over Collateral version. This was a collaboration between ISLA, its members and Clifford Chance. WHEREAS, the Lending Agent acts as the agent for each Client and it corresponding Funds, as applicable, for the purpose of lending securities pursuant to a securities lending agency agreement, dated as of June 1, 2007, as amended March 1, 2011;

simultaneous agreement by Borrower to transfer to Lender Securities equivalent to such Securities on a fixed date or on demand against the transfer to Borrower by Lender of assets equivalent to such Collateral. 1.2 Each such transaction shall be referred to in this Agreement as a "Loan" and shall be Master Securities Loan Agreement (MSLA) Last updated 2017. An agreement for use when parties may enter into transactions in which one party (a “Lender”) will lend to the other party (a “Borrower”) certain securities against a transfer of collateral. View related opinions, which are free to member firms. Securities lending is the act of loaning a stock, derivative or other security to an investor or firm. Securities lending requires the borrower to put up collateral, whether cash, security or a letter of credit. When a security is loaned, the title and the ownership are also transferred to the borrower. In a securities lending transaction in the international market, as in repo, one party gives legal title to a security or basket of securities to another party for a limited period of time, in exchange for legal ownership of collateral (although it is also possible for the collateral to be pledged and there are still uncollateralized securities loans). Oklahoma Student Loan Authority: OSLA: Ocean State Lawyers for the Arts (est. 1984; Rhode Island) OSLA: Overseas Securities Lending Agreement: OSLA: One Step Loading Adapter (US Air Force) OSLA: Office of Student Legislative Affairs (Bellevue College; Bellevue, WA) Understanding Securities Lending. Securities lending is a common strategy used by institutional and sophisticated investors to generate additional income in their portfolios. Securities lending is when an individual or institutional investor (the lender) temporarily loans securities to a financial institution, such as a brokerage firm, bank or hedge fund (the borrower). Trading under this contract is therefore limited to hedging short positions. However, contracts under Anglo-Saxon law such as the Overseas Securities Lending Agreement (OSLA) allow this.

legal agreements used to govern securities lending activities will be enforceable. transactions, the most widely used global master agreement is the Overseas.

The Global Master Securities Lending Agreement (GMSLA) document may be used as a standard master agreement for securities lending transactions in the cross-border market. The GMSLA in now available in two forms; title transfer and a security interest version which was released to the market at the end of 2018. ISLA has provided the legal standard framework for the securities lending industry since the early 90’s. The GMSLA has become the standard legal agreement in the European markets, the latest release being the 2018 Security Interest over Collateral version. This was a collaboration between ISLA, its members and Clifford Chance. WHEREAS, the Lending Agent acts as the agent for each Client and it corresponding Funds, as applicable, for the purpose of lending securities pursuant to a securities lending agency agreement, dated as of June 1, 2007, as amended March 1, 2011; MASTER SECURITIES LENDING AGREEMENT . This MASTER SECURITIES LENDING AGREEMENT dated as of 200 by and between (the “Borrower”) and JPMORGAN CHASE BANK, as trustee or managing agent for those certain trusts and accounts (including accounts subject to ERISA, as hereinafter defined) from time to time listed in Appendix A hereto (JPMorgan Chase Bank, acting in its capacity as trustee or managing agent for each such trust or account, and not in its individual capacity, is hereinafter referred transfer to Lender Securities equivalent to such Securities on a fixed date or on demand against the transfer to Borrower by Lender of assets equivalent to such Collateral. 1.2. Each such transaction shall be referred to in this Agreement as a . Loan. and shall be governed by the terms of this Agreement, including the supplemental terms and simultaneous agreement by Borrower to transfer to Lender Securities equivalent to such Securities on a fixed date or on demand against the transfer to Borrower by Lender of assets equivalent to such Collateral. 1.2 Each such transaction shall be referred to in this Agreement as a "Loan" and shall be Master Securities Loan Agreement (MSLA) Last updated 2017. An agreement for use when parties may enter into transactions in which one party (a “Lender”) will lend to the other party (a “Borrower”) certain securities against a transfer of collateral. View related opinions, which are free to member firms.

Securities Loan Agreement. The Lending Agent is authorized to execute securities loan agreements (each an “SLA”) as the Client’s agent on a disclosed basis with Approved Borrowers.

Securities lending is the act of loaning a stock, derivative or other security to an investor or firm. Securities lending requires the borrower to put up collateral, whether cash, security or a letter of credit. When a security is loaned, the title and the ownership are also transferred to the borrower.

MASTER EQUITY & FIXED INTEREST STOCK LENDING AGREEMENT (1996) (For use by UK Lenders or their Agents with Intermediaries and Borrowers and by Intermediaries with Borrowers and other Intermediaries for the Lending of all Securities (including Overseas Securities) other than gilt-edged securities.) THIS AGREEMENT is made the day of , 19 . BETWEEN:-

The form of Securities Lending and Borrowing Agreement shall be approved International lending and borrowing agreements may be used such as overseas. 21 Jun 2019 eSecLending's Ed Oliver provides an update on securities lending in emerging markets. acceptance of overseas collateral when lending Philippine equities. to the Global Master Securities Lending Agreement (GMSLA).

3. Affiliated Lending Funds and Other Lending Funds (collectively, “Lending Funds”) may loan their portfolio securities to various institutional borrowers. Pursuant to a securities lending agreement (the “Securities Lending Agreement”), Bankers Trust acts as the securities lending agent for each Lending Fund. Each Lending Fund will represent to Bankers Trust that its policies generally permit the Lending Fund to engage in securities lending transactions.

MASTER SECURITIES LENDING AGREEMENT . This MASTER SECURITIES LENDING AGREEMENT dated as of 200 by and between (the “Borrower”) and JPMORGAN CHASE BANK, as trustee or managing agent for those certain trusts and accounts (including accounts subject to ERISA, as hereinafter defined) from time to time listed in Appendix A hereto (JPMorgan Chase Bank, acting in its capacity as trustee or managing agent for each such trust or account, and not in its individual capacity, is hereinafter referred transfer to Lender Securities equivalent to such Securities on a fixed date or on demand against the transfer to Borrower by Lender of assets equivalent to such Collateral. 1.2. Each such transaction shall be referred to in this Agreement as a . Loan. and shall be governed by the terms of this Agreement, including the supplemental terms and

t), “MSLA” shall mean a master securities lending agreement or securities borrowing agreement between OVERSEAS SECURITIES LENDER'S AGREEMENT