OREANDA-NEWS. Swedbank has introduced amendments in Part I of the Terms of Agreement for Financial Market Transactions:

  • Clause 7.8 in Section 7 “Collateral” has been supplemented with the provision that in case of reuse of financial instruments provided as collateral to the Bank the Bank has a duty to transfer financial instruments from the Customer’s account;
  • Section 17 “Risks” has been supplemented with a new Clause 17.2 (numeration of the subsequent clauses has changed) providing information about the risks and consequences resulting from reuse of financial instruments (those provided as collateral or resulting from a repo transaction), as well as about the risks and consequences arising from transition of ownership of financial instruments (applies to both financial instruments sold in repo transactions and financial instruments provided as collateral if the Bank decides to use them).