Thread Options Tools
#32987 - 09/17/02 02:34 PM Repurchase Agreements
Kari Offline
100 Club
Kari
Joined: Sep 2002
Posts: 131
PA
Is anyone familiar with repurchase agreements that would be willing to assist me?

Return to Top
General Discussion
#32988 - 09/17/02 02:47 PM Re: Repurchase Agreements
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,234
Galveston, TX
What are your questions?
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#32989 - 09/17/02 02:53 PM Re: Repurchase Agreements
Kari Offline
100 Club
Kari
Joined: Sep 2002
Posts: 131
PA
We are wanting to set up an RA with a customer who has an excess of funds with our FI. The amount over the FDIC insurable amount we would like to do an RA for. Our questions are "how do we even start such a process, where can I find a sample of an agreement, does an attorney need to draw up the contract" Oh my, where to begin!!!

Return to Top
#32990 - 09/17/02 03:07 PM Re: Repurchase Agreements
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,234
Galveston, TX
There is a lot to RA's including segregation of securities to secure the agreement, confirmation notices, etc. If you are talking about setting this up for one customer, unless you are talking A LOT of money, it's most likely not going to be worth it.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#32991 - 09/17/02 03:38 PM Re: Repurchase Agreements
Kari Offline
100 Club
Kari
Joined: Sep 2002
Posts: 131
PA
I would say, yes it is ALOT of money and is probably worth it.
How complicated is this and would you be willing to share your wisdom. kkulick@merchantskittanning.com Thank you soooo much

Return to Top
#32992 - 09/17/02 03:56 PM Re: Repurchase Agreements
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,234
Galveston, TX
Here's the best place to start:

Try this, I'm not sure who your regulator is, but there are some other references in this OTS section out of their activities handbook. Best I could do:

OTS - Government Securities Act
Last edited by rlcarey; 09/17/02 04:19 PM.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#32993 - 09/17/02 05:16 PM Re: Repurchase Agreements
wlavoie Offline
Gold Star
wlavoie
Joined: Jul 2002
Posts: 338
Hell's Canyon
Kari,
I will email you a sample repurchase agreement. You need to be very careful about the securities you purchase. If you don't use municipal securities they are subject to Reg D and you need to do daily confirmations.
_________________________
Wendy LaVoie

Return to Top
#32994 - 09/17/02 06:35 PM Re: Repurchase Agreements
Anonymous
Unregistered

My deepest thanks goes to both of you. We are regulated by the OCC and we have also contacted them. I will check out the OTS (I was looking at the SEC) and I will check out the sample agreement. Have a great day, I know you two have made my day a little easier. Thanks again!

Return to Top
#32995 - 09/17/02 06:44 PM Re: Repurchase Agreements
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,234
Galveston, TX
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top