This paper is intended to provide a practical guide to managing the operational procedures of securities lending activity transacted using the GMSLA, and covers both lender and borrower counterparties. It should be noted that some parties may need to adapt the proposed practical processes described in this paper because of system restrictions or other inhibitors. In this situation, this should be agreed bilaterally between parties and where possible documented between parties. (IBP-102)
In the event of a dispute between parties, the Operation Executive committee will act as a reference point in relation to this paper. The Operations Executive committee is made up of senior representatives from the securities lending participants and reports directly to the duly elected ISLA Executive committee. (IBP-104)
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