Q. Regulations 25(1) and (3) of the Central Bank UCITS Regulations refer to cash or securities being recallable at all times. What does this mean in the context of fixed-term repurchase and reverse repurchase agreements?
A. Fixed-term repurchase and reverse repurchase agreements that do not exceed seven days should be considered as arrangements on terms that allow the assets to be recalled at any time by the UCITS.