Since the early 1990s ICMA has devoted considerable resources to developing a standard master agreement for repo transactions in conjunction with the Securities Industry and Financial Markets Association (SIFMA). The first version of the GMRA was published in 1992 and followed by a substantially revised version in 1995. The third version of the GMRA - the GMRA 2000 reflecting markets developments since 1995 – was published in October 2000.

Since 1992, a number of annexes to the GMRA adapting it to suit different jurisdictions and markets have been produced.

ICMA is obtaining and updating on an annual basis, opinions on the GMRA 2000, the GMRA 1995 as well as the GMRA 1995 as amended by the Amendment Agreement from numerous jurisdictions worldwide (jointly with TBMA in certain jurisdictions).

GMRA 1995 and related documents

A number of documents relating to the GMRA are available for download below. Further related documentation, such as annexes to the GMRA 1995, is contained elsewhere within the legal and regulatory area of the web site.

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GMRA 1995

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Guidance notes to the GMRA 1995

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List of annexes to the GMRA 1995

Click here to view a list of those legal opinions to the GMRA 2000, the GMRA 1995 and the GMRA 1995 as amended by the Amendment Agreement sought by ICMA and SIFMA jointly in 2008.

Click here to view a list of those legal opinions to the GMRA 2000, the GMRA 1995 and the GMRA 1995 as amended by the Amendment Agreement sought by ICMA alone in 2008.