Ordinance of the Swiss Financial Market Supervisory Authority on Collective Investment Schemes

¹If the fund man­age­ment com­pany or SICAV must ob­serve a no­tice peri­od be­fore it can again have leg­al con­trol of the se­cur­it­ies un­der the re­pur­chase agree­ment, it may not use more than 50 per­cent of its hold­ings of a par­tic­u­lar se­cur­ity eli­gible for repo trans­ac­tions.

²If, however, the coun­ter­party or in­ter­me­di­ary provides the fund man­age­ment com­pany or SICAV with a con­trac­tu­al guar­an­tee that the lat­ter may again have leg­al con­trol of the se­cur­it­ies un­der the re­pur­chase agree­ment on the same or fol­low­ing bank­ing day, its en­tire hold­ing of a par­tic­u­lar se­cur­ity eli­gible for repo trans­ac­tions may be used.