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CSSF FAQ – Use of Securities Financing Transactions by UCITS (and AIFs) – three months left

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Jean-Christian Six

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Yannick Arbaut

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08 June 2021

On 18 December 2020, the Commission de Surveillance du Secteur Financier (CSSF) published a new FAQ in relation to the use by Luxembourg-domiciled UCITS of the following Securities Financing Transactions (SFTs): securities lending transactions, reverse repurchase agreement transactions (reverse repo) and repurchase agreement transactions (repo), as well as buy-sell back and sell-buy back transactions complying with the applicable regulation that UCITS might conclude.

The objective of the FAQ is to bring further clarity concerning the use by UCITS of these SFTs, thereby taking into account the applicable regulatory framework, such as, inter alia, Regulation (EU) 2015/2365 concerning the transparency of securities financing transactions and of reuse (SFTR) as well as the supervisory experienced gained by the CSSF in recent years.

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