The International Capital Market Association (ICMA) published a new Global Master Repurchase Agreement (GMRA) legal opinion for Ghana.
Following member requests, ICMA commissioned a legal opinion for Ghana that covers the enforceability of the netting provisions of the GMRA, as well as the validity of the GMRA as a whole, under the laws of Ghana.
Regulators require repo transactions to be subject to agreements like the GMRA, supported by regularly updated legal opinions, in order to reduce regulatory capital requirements through close-out netting. ICMA legal opinions enable members to realize these significant regulatory capital benefits.