1. A reverse repurchase agreement shall be eligible to be entered into by an MMF provided that all of the following conditions are fulfilled:
(a) the MMF has the right to terminate the agreement at any time upon giving prior notice of no more than two working days;
(b) the market value of the assets received as part of the reverse repurchase agreement is at all times at least equal to the value of the cash paid out.
2. The assets received by an MMF as part of a reverse repurchase agreement shall be money market instruments that fulfil the requirements set out in Article 10.
The assets received by an MMF as part of a reverse repurchase agreement shall not be sold, reinvested, pledged or otherwise transferred.
3. Securitisations and ABCPs shall not be received by an MMF as part of a reverse repurchase agreement.
4. The assets received by an MMF as part of a reverse repurchase agreement shall be sufficiently diversified with a maximum exposure to a given issuer of 15% of the MMF's NAV, ex
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