EBF to update European master agreement

Derivatives and repo docs to be amended in light of new regulations, giving users an EU law option post-Brexit

Umbrella group of national banking associations says the European master agreement is already aligned with the continent's civil code

The European Banking Federation (EBF) is planning to update its European master agreement (EMA), which allows the netting of derivatives and repos, to reflect recent regulatory updates. The move follows calls from market participants and could provide an EU law option for derivatives users after the UK leaves the European Union.

The EMA, launched in the early 2000s, is available in multiple EU languages and can be governed by several EU legal regimes. It is used mainly by central banks but has

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