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Global Master Repurchase Agreement (GMRA)

Since the early 1990s ICMA has devoted considerable resources to developing a standard master agreement for repo transactions in conjunction with the Securities Industry and Financial Markets Association (SIFMA). The first version of the GMRA was published in 1992 and followed by substantially revised versions in 1995, 2000 and 2011.

ICMA obtains and annually updates opinions from numerous jurisdictions worldwide on the GMRA 1995, 2000 and 2011 versions. Click here to view a list of the GMRA legal opinions.

Click on the tabs below to see the Global Master Repurchase Agreements, including related documents, annexes and guidance notes.

 

GMRA 2011 and related documents

Documents relating to the GMRA 2011 are available for download below.

GMRA 2011

GMRA 2011 blacklined to show changes from GMRA 2000

Guidance Notes to the GMRA 2011

Buy/Sell Back Annex to the GMRA 2011

Bills Annex to the GMRA 2011

Agency Annex to the GMRA 2011

Equities Annex to the GMRA 2011

NEW: Russian Annex to the GMRA 2011

Russian Translation of the GMRA 2011*
*This translation is provided for information only and intended to serve as an educational reference tool. The official version of the GMRA 2011 is the English language version published above.

 


     
The ICMA and ISLA Global Master Agreements for Repo and Securities Lending Workshop
 
Click here for more information on the ICMA and ISLA Global Master Agreements for Repo and Securities Lending Workshop.
GMRA 2000 and related documents

Documents relating to the GMRA 2000 are available for download below.

GMRA 2000

GMRA 2000 blacklined to show changes from GMRA 1995

Guidance notes to the GMRA 2000

French translation of the guidance notes to the GMRA 2000

German translation of the guidance notes to the GMRA 2000

Italian translation of the guidance notes to the GMRA 2000

Spanish translation of the guidance notes to the GMRA 2000

Amendment agreement to the GMRA 1995

List of annexes to the GMRA 2000

Form of mini close-out notice



GMRA 2000 - annexes (and associated guidance notes)

A number of annexes to the GMRA adapting it to suit different jurisdictions and markets have been produced. The annexes published jointly by ICMA and SIFMA, the annexes published by ICMA alone and the annexes published by other bodies are listed separately below for downloading.

List of annexes to the GMRA 2000


Annexes to the GMRA 2000 published jointly by ICMA and SIFMA

Agency Annex (and addendum for multiple principal transactions with guidance notes)

Bills of Exchange Annex with guidance notes

Buy/Sell Back Annex

Canadian Annex

Equities Annex with guidance notes

Italian Annex with guidance notes*

Netherlands Annex with guidance notes

*The October 2000 version of the Italian Annex and guidance notes which was originally made available for downloading contained some erroneous references and on May 30, 2001 has been replaced by the corrected May 2001 version.  


Annexes to the GMRA 2000 published by ICMA alone

South African Annex

Thailand Annex

NEW: Russian Annex

 

Annexes to the GMRA 2000 published by other bodies

AFMA Annex I published by the Australian Financial Markets Association (AFMA) with supplemental legal opinion

Gilts Annex with respective notes published by the Bank of England

Japanese Securities Annex published by the Japanese Securities Dealers Association


GMRA 1995 and related documents

Documents relating to the GMRA 1995 are available for download below.

GMRA 1995

Guidance notes to the GMRA 1995

List of annexes to the GMRA 1995



GMRA 1995 - annexes (and associated guidance notes) 

A number of annexes to the GMRA 1995 adapting it to suit different jurisdictions and markets have been produced. The annexes published by ICMA alone and the annexes published by other bodies are listed separately below for downloading.

List of annexes to the GMRA 1995 


Annexes to the GMRA 1995 published by ICMA
 

Bills of Exchange Annex

EMU Annex with guidance notes

Equities Annex with guidance notes

FASB 125 Annex with guidance notes

Italian Annex with guidance notes

Language for inclusion of US treasuries under the GMRA

Netherlands Annex

Net paying securities annex with guidance notes

South African Annex

NEW: Russian Annex


Annexes to the GMRA 1995 published by other bodies

AFMA Annex I published by the Australian Financial Markets Association (AFMA) with supplemental legal opinion

Swiss Annex published by the Swiss National Bank

Japanese Securities Annex published by the Japanese Securities Dealers Association


 
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