ISLA issues new pledge documentation to support BNY Mellon as collateral manager

ISLA is pleased to announce a new edition to the GMSLA Pledge Structure Documentation which now includes documentation to support the Bank of New York Mellon (BNYM) SA/NV as a collateral manager.

As part of a commitment to support the use of global master agreements, ISLA in conjunction with Clifford Chance and key industry stakeholders has developed extra documentation to supplement a pledge collateral version of its existing Global Master Securities Lending Agreement (GMSLA).

The addition of the BNYM SA/NV, incorporated in Belgium, required the development of an additional Belgian law security agreement and supporting legal opinions.

Clifford Chance were appointed by ISLA to produce the required documentation and by BNYM SA/NV to review the Belgian law Global Collateral Account Control Agreement. The Global Collateral Account Control Agreement can be obtained directly from your BNYM representative.

All documentation that supports the GMSLA Pledge Structure Documentation are available to ISLA members and can be downloaded here.

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