Chapter II is devoted to the legal and economic structure of filings. First, we analyze the differences in the legal design of the contract, which are structured respectively as a sale in Europe and as a consignment concession for the underlying in the United States (p. 2.1.). As the repo is similar to a secured loan, the treatment also covers what is known as the «guaranteed loan.» «recovery risk,» i.e. the risk that a judge could recycle a repo, which in all respects implies a transfer of ownership of the securities, such as the granting of a real right of guarantee (paragraph 2.1.1.). Contractual events are then examined in the event of non-performance or insolvency of one of the parties, particularly in the United States, by means of a cost-benefit analysis of the economic functioning of two legislations, namely automatic and safe port, applicable to qualified financial contracts, of which repot is a remarkable example (Para. 2.2.) The document then proposes the traditional taxonomy of the transaction and analyzes the three essential contractual structures that constitute the deposits specific to the specific business needs of the parties (Para. To this end, the chapter examines the «bilateral repurchase» in which counterparties enter into the transaction without an intermediary (para. 2.3.1.), the «tri-part-repo» – in which counterparties are questioned by an intermediary, usually a bank, to facilitate the transaction (paragraph 2.3.2.) and finally the deposit model – in which the seller retains functional control of the securities on a separate account – (paragraph 2.3.3.). The two structures that allow the parties to settle the underlying collateral (general security or special receivables) are then processed and will describe, among other things, the asset classes most used for this purpose on the market (paragraph). 2.4.) The chapter continues with the processing of the main executive contract used in international transactions, the Global Master Repurchase Agreement (GMRA), in light of a cost-benefit analysis of the standardization of financial contracts (p. 2.5.).
The chapter concludes with comments on the differences between deposits and bond loans (al. 2.6) and the accounting treatment of the transaction, which informs the full year report. «repo 105,» an accounting/financial instrument used by Lehman Brothers during the last global financial crisis to resolve the critical issues of its conclusion (Para. 2.7.). Chapter I is divided into two sections. The first part attempts to outline the regulatory premises on which the comparative method can be applied to the study of financial regulation, which reflects the role of the comparator in light of cross-border challenges and global trends. The purpose of this question is to identify the appropriate methodological approach to the analysis of the links between law and finance (paragraph 3). 1.1.). In addition, after clarifying the position of the soft law in the implementation of the rules of the Global Financial System (Para). 1.2.) is the first step in the debate on the «quantitative» use of calibration methods to measure the development and growth of financial markets (paragraph).
1.3.). In addition, this section analyzes the assumptions and fundamental reasons for financial regulation (paragraph 1.4.). The results of these methodological premises have the advantage of facilitating the understanding of the economic dynamism that underlies the overall regulation of rests. In addition, the first section defines some of the legal and financial concepts that are recurrent during processing. The second section is devoted to the historical and institutional analysis of deposits.