13. The safeguards that the tri-party agent should put in place to ensure compliance with the …

The safeguards that the tri-party agent should put in place to ensure compliance with the specified limits should include the following:

a. Tri-party collateral management is only performed in accordance with the duly signed service agreement;
b. Tri-party agents have set up a control environment which ensures, for each communication on specified limits, that these limits are duly authorised by the institution, and are entered and processed accurately, in due time and only once in their collateral management system;
c. Tri-party agents have set up a control environment that ensures that collateral is safeguarded, actively monitored and pricing values are duly recorded in a timely manner;
d. Tri-party agents have set up a control environment which ensures the detection, in a timely manner, of possible breach(es) of the specified limits;
e. When allocating collateral securities to cover an exposure, the tri-party agent’s systems ensure that their market value does not breach any of the specified limits and/or exclusions. In case of an inadequate application of the revised limits specified by the institution due to operational issues, the tri-party agent should notify the institution in good time;
f. Tri-party agents should be contractually required to comply with the specified limits and to ensure that the eligibility profiles of collateral issuers and securities as referred to in section 4.3.1 can be verified on the basis of the information provided under the service agreement by the institution and the collateral provider.

1. Forbhreathnú

Teideal	Rialáil

Ceanglais
Foinse	Ceanglas

Caighdeáin
Foinse	Ceanglas