The assignee’s remuneration, in whatever form, constitutes income from a debt. For accounting purposes, it is treated as interest. When the term of the repurchase agreement covers the date of payment of the income attached to the financial securities sold under the repurchase agreement, the transferee pays it to the transferor, who records it as income of the same nature.
Under a repurchase agreement, the seller retains the securities sold under a repurchase agreement as an asset on its balance sheet and records the amount of its debt to the buyer as a liability on its balance sheet; these securities and this debt are recorded under a specific heading in the seller’s accounts. In addition, the amount of the financial securities sold under a repurchase agreement, broken down according to…
Financial securities received under a repurchase agreement are not recorded on the transferee’s balance sheet; the transferee records the amount of its receivable from the transferor as an asset. When the transferee disposes of financial securities that it has itself received under a repurchase agreement, it recognises as a liability on its balance sheet the amount of this disposal representing its financial securities debt which, at the end of the…
For the purposes of articles L. 211-27 to L. 211-33, public or private bills are treated in the same way as financial securities. However, only credit institutions and finance companies may repurchase or reverse repurchase private bills.
No one may, in order to avoid obligations arising from financial contracts, rely on article 1965 of the Civil Code, even if these transactions are resolved by the payment of a simple difference.
I. – The provisions of this paragraph apply to 1° To financial obligations arising from transactions in financial instruments or in units mentioned in article L. 229-7 of the Environment Code, spot foreign exchange transactions or transactions for the sale, purchase or delivery of gold, silver, platinum, palladium or other precious metals or to goods represented by a storage receipt mentioned in article L. 522-37-1 of the French Commercial Code,…
I. – The agreements relating to the financial obligations mentioned in article L. 211-36 may be terminated, and the debts and receivables relating thereto may be set off between all the parties. The parties may provide for the establishment of a single balance, whether these financial obligations are governed by one or more agreements or framework agreements. II. – The procedures for terminating, assessing and offsetting the transactions and obligations…
The assignment of receivables relating to the financial obligations referred to in article L. 211-36 may be relied on as against third parties upon notification of the assignment to the debtor. The assignment of contracts relating to the financial obligations referred to in article L. 211-36 may be relied on as against third parties by virtue of the written agreement of the parties.
I. – As security for the present or future financial obligations referred to in article L. 211-36, the parties may provide for the delivery in full ownership, enforceable against third parties without formalities, of financial instruments, goods represented by a warehouse receipt, bills, debts, contracts or sums of money, or the creation of securities on such goods or rights, can be realised, even when one of the parties is the…
No creditor of the beneficiary other than the provider of the financial collateral referred to in Article L. 211-38 and provided as initial margin pursuant to Article 11 of Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on over-the-counter derivatives, central counterparties and trade repositories may claim any right whatsoever over the assets or rights to which such collateral relates, even on…
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75001, Paris France
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
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Paris Bar Registration n° (Toque) C2396
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