The Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions) Order 2014
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Change 1
18 Financial institution exposures: repo transactions
A ring-fenced body (“A”) may incur a financial institution exposure to a relevant financial institution (“B”) pursuant to an agreement with B— (a) for the transfer of its own assets to B on terms— (i) imposing an obligation on A to buy those assets, or assets of the same description, from B at one or more subsequent times; or (ii) imposing an obligation on B to transfer those assets, or assets of the same description, to A at one or more subsequent times; (b) for the transfer of liquid assets from B to A for the purpose of managing A's liquidity risk on terms— (i) imposing an obligation on B to buy those assets, or assets of the same description from A at one or more subsequent times; or (ii) imposing an obligation on A to transfer those assets, or assets of the same description, to B at one or more subsequent times.
18 Financial institution exposures: repo transactions
A ring-fenced body (“A”) may incur a financial institution exposure to a relevant financial institution (“B”) pursuant to an agreement with B— (a) for the transfer of its own assets to B on terms— (i) imposing an obligation on A to buy those assets, or assets of the same description, from B at one or more subsequent times; or (ii) imposing an obligation on B to transfer those assets, or assets of the same description, to A at one or more subsequent times; (b) for the transfer of liquid assets from B to A for the purpose of managing A's liquidity risk on terms— (i) imposing an obligation on B to buy those assets, or assets of the same description from A at one or more subsequent times; or (ii) imposing an obligation on A to transfer those assets, or assets of the same description, to B at one or more subsequent times.
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