CFM17165 - Repos: commercial background: standard documentation

Bond Market Association and International Securities Market Association documentation

Standard repo documentation is written by the BMA and ISMA (Bond Market Association and International Securities Market Association). The BMA repo agreement is used in the US and in Europe the GMRA (General Master Repurchase Agreement) published jointly by the BMA and ISMA is the standard agreement. The parties to the agreement will adapt its terms to suit individual trades.