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Our courses are intended for a global audience, with each one being completely customisable to suit the needs of the individuals it is being delivered to.

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Repo and Collateral Workshop

  • Banking and Financial Markets, Banking Operations
  • Duration: One day
  • Information

    This one-day course explains the mechanics, terminology and risks associated with the Repo markets. It will examine collateral and collateral management as a risk mitigating technique and look at practical structures.


    Session 1:

    Buy/Sell transactions

    • Review of mechanics

    • Cash flows

    • Calculations

    Session 2:

    • Classic repo Cash flows Market conventions

    • Participants

    • Market size growth

    • Calculations

    • Review of mechanics

    Session 3:

    Repo calculations

    • Interest basis & conventions

    • Accrued interest

    • General collateral

    • Special collateral

    • Haircuts

    • Margin Calls

    • Acceptable collateral and Substitution

    • Early Termination and Close out

    Session 4:

    Securities lending

    • Comparison with repo

    • Application

    Session 5:

    Legal and Documentational issues

    • Legal framework

    • PSA-ISMA Master Agreement

    Session 6:

    Market users & motives

    • Securities dealers

    • Bank treasuries

    • Corporate treasuries

    • Fund & money managers

    • Central banks

    Session 7:


    • Definition of collateral

    • The relative merits of collateral

    • The types of trade that can be collateralised

    • Why there is growth in Collateralisation

    Session 8:

    The advantages & risks of collateralised trades

    • Mitigation of credit risk

    • Correlation risk

    • Tracking, valuation & calling collateral

    • Return on capital

    • Influence on bid/offer spreads

    Session 9:

    Practical structures

    • Revaluation method

    • Break clauses

    • Add-ons

    • Third party credit support

    Course Close

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    As every course we run is tailored to meet the specific needs of each client, we can only provide an estimate after fully understanding your specific requirements. Please complete the form below of call +44 (0) 208 894 4977 to discuss how Taylor Associates can help you.

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