{
  "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-18",
  "json_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-18.json",
  "legislation": "ukdsi/2014/9780111117101",
  "legislation_title": "The Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions) Order 2014",
  "legislation_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014",
  "path": "article/18",
  "kind": "article",
  "number": "18",
  "heading": "Financial institution exposures: repo transactions",
  "text": "A ring-fenced body (“A”) may incur a financial institution exposure to a relevant financial institution (“B”) pursuant to an agreement with B—\n(a) for the transfer of its own assets to B on terms—\n(i) imposing an obligation on A to buy those assets, or assets of the same description, from B at one or more subsequent times; or\n(ii) imposing an obligation on B to transfer those assets, or assets of the same description, to A at one or more subsequent times;\n(b) for the transfer of liquid assets from B to A for the purpose of managing A’s liquidity risk on terms—\n(i) imposing an obligation on B to buy those assets, or assets of the same description from A at one or more subsequent times; or\n(ii) imposing an obligation on A to transfer those assets, or assets of the same description, to B at one or more subsequent times.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2014/9780111117101/article/18",
    "retrieved_at": "2026-10-30T15:12:39.977757+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}