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Disclosure Templates for Repurchase and Reverse Repurchase Agreements – Comment Deadline April 29, 2016

Note – Proposed disclosure templates are included in the "secured borrowing" and "sale accounting" documents. The “SSAP No. 103” document includes proposed revisions to SSAP No. 103 to reflect the disclosures that will be captured templates, as well as to aggregate the repurchase disclosures in the SSAP. Comments are also specifically requested on the expansion of Schedule DL to include collateral from repurchase / reverse repurchase agreements.

Comments shall be addressed to Tomoko Stock, Chair of the Restricted Asset (E) Subgroup, and sent electronically to Julie Gann (NAIC staff).

ACLI Repurchase Agreement Presentation from May 13, 2015, conference call

Repo Discussion - May 8, 2014, Conference Call

Repo Article Summary

This memorandum intends to communicate that key authoritative groups are still studying repos and securities lending as a result of the financial crisis. As detailed in the memo, these groups have recently released documents that continue to note the lack of data for these transactions, as well as the risks and concerns that currently exist.

Related NAIC Publications

Contacts

Restricted Asset (E) Subgroup

 

2017 Charge

  1. Address issues related to assets that are pledged or restricted, which include, but are not limited to: repurchase/reverse repurchase agreements and tri-party repurchase agreements, qualified financial contracts, Federal Home Loan Bank (FHLB) transactions and assets held under reinsurance trusts.