The Global Master Securities Lending Agreement (2000)
As mentioned in Chapter 2 (page 43) the GMSLA 2000 replaces the OSLA, GESLA and MEFISLA if parties want to adhere to it.
When published its aims were:
- To create an international “one stop” securities lending agreement for all types of bonds and equities.
- To reflect market rule and practice changes including clearing and settlement arrangements.
- To produce a Tax Addendum where overseas securities and collateral were involved and one of the parties was UK tax resident. ...