ICMA has today, in collaboration with AFME, FIA, ISDA and ISLA, published an updated version of the Master Regulatory Reporting Agreement (MRRA) and the accompanying Explanatory Memorandum.
Originally published in 2019, the MRRA provides users with a template agreement for documenting regulatory reporting arrangements in relation to securities financing transactions and derivatives entered into under industry standard documentation, such as the Global Master Repurchase Agreement (GMRA).
The MRRA sets out common terms governing mandatory and delegated reporting of securities financing transactions under the SFTR as well as derivatives transactions under EMIR, compatible with changes introduced via EMIR Refit.
The updates to the 2023 version of the MRRA include changes to address the fact that UK SFTR and UK EMIR are now operational, and that UK SFTR does not apply to NFCs.
The updated MRRA can be found here and the updated explanatory memorandum setting out the architecture and the background to the MRRA is available here.