ICMA Euro commercial paper (ECP) materials are made available to the wider market

 

23 March 2020 Following the announcement of the Bank of England’s Covid Corporate Financing Facility (CCFF) and in the interest of supporting the overall market, ICMA is making generally available to non-ICMA members the Euro commercial paper materials from the ICMA Primary Market Handbook previously available only to ICMA members. The Bank of England has confirmed to ICMA that it will accept commercial paper issued on ICMA standard templates, though ICMA anticipates some parties may wish to use the ICMA materials as a basis from which to develop narrower use documentation.
 
The relevant materials are:
  1. Appendix A7, Part I - Dealer Agreement;
  2. Appendix A7, Part II - Information Memorandum;
  3. Appendix A7, Part III - Global Note;
  4. MiFID II Product Governance and Euro Commercial Paper;
  5. Chapter 12 - ECP Recommendations;
  6. Chapter 2 - MTN Recommendations (cross-references from Chapter 12).
ICMA is considering the IBOR provisions in the standard form ICMA ECP Global Note.

Any related queries should be directed to LegalHelpdesk@icmagroup.org.

ICMA Zurich

T: +41 44 363 4222
Dreikönigstrasse 8
8002 Zurich
ICMA London

T: +44 20 7213 0310
110 Cannon Street
London EC4N 6EU
ICMA Paris

T: +33 1 70 17 64 72
62 rue la Boétie
75008 Paris
ICMA Hong Kong

T: +852 2531 6592
Unit 3603, Tower 2
Lippo Centre
89 Queensway, Admiralty
Hong Kong
 
Copyright © 2020 International Capital Market Association.