Glossary

A B C D E F G H I L M N O P R S T V

GBp: Prices or values reported in Great British Pence
GBP: Prices or values reported in Great British Pounds
GENERAL COLLATERAL (GC): Securities that are not "special" (see definition below) in the market and may be used, typically, simply to collateralise cash borrowings. Also known as "stock collateral".
GILT-EDGE SECURITIES LENDING AGREEMENT (GESLA): The standard legal agreement for the lending UK government bonds (gilts). The agreement uses English law, is approved by the UK's Inland Revenue and was introduced in April 1996.
GILT-EDGED SECURITIES (GILTS): Government bonds issued by the United Kingdom.
GLOBAL MASTER REPURCHASE AGREEMENT (GMRA): The PSA/ISMA Global Master Repurchase Agreement is the standard repo agreement used by non-US Treasury repo practitioners. It is based on the PSAs Master Repo Agreement, but under English law, and was first introduced in November 2002. Annexes are available for repos of UK gilt-edge securities, Belgian securities and buy/sell back and agency transactions. The GMRA is endorsed by the PSA and ISMA and is often known as the PSA/ISMA agreement
GLOBAL MASTER SECURITIES LENDING AGREEMENT (GMSLA): A market standard legal agreement drafted with a view to compliance with English law. An English law opinion has been obtained on the agreement.
GMRA: See PSA/ISMA Global Master Repurchase Agreement
GROSS PAYING SECURITY: Securities on which interest or other distributions are paid without any taxes being held at source.
GROSS-PAYING SECURITIES: Securities on which interest or other distributions are paid without any taxes being withheld.