Overview
This page is focused on the terms of the Master Securities Forward Agreement and TBA Transactions and the principal regulatory issues that such agreements raise. Separate pages are focused on Securities Lending Agreements and on Repurchase Agreements. See also the bottom of this page for other closely related subjects.
Find:
FINRA Rule 4210 Versions
- FINRA Rule 4210 (Valid from Nov. 7, 2013 Through Dec. 14, 2016)
- FINRA Rule 4210 (Effective Dec. 15, 2016)
- FINRA Rule 4210 (Effective June 25, 2018)
- Comparison of the rule and the rule effective 6/2018
FINRA Rule Filing and Amendments
- Rule Filing SR-FINRA-2017-029 (Sept. 2017)
- Amendment No. 3 (May 2016)
- Amendment No. 2 (Mar. 2016)
- Amendment No. 1 (Jan. 2016)
- Rule Filing SR-FINRA-2015-036 (Oct. 2015)
FINRA Notices and FAQs
- Regulatory Notices
- FINRA Notice 17-28: FINRA Makes Available Frequently Asked Questions and Guidance and Extends Effective Date of Margin Requirements for Covered Agency Transactions; New Effective Date: June 25, 2018
- FINRA Notice 16-31: SEC Approves Amendments to FINRA Rule 4210 (Margin Requirements) to Establish Margin Requirements for Covered Agency Transactions
- FINRA Notice 14-02: FINRA Requests Comment on Proposed Amendments to FINRA Rule 4210 for TBA Transactions
- Frequently Asked Questions
SEC Federal Register Releases
- 82 FR 45915 - Proposed Rule Change To Delay the Implementation Date of Certain Amendments to FINRA Rule 4210
- 81 FR 40364 - SROs; FINRA; Amendment No. 3 and Accelerated Approval to a Proposed Change To FINRA Rule 4210 (Margin Requirements) To Establish Margin Requirements for the TBA Market
- 81 FR 22347 - Amendment No. 2
- 81 FR 3532 - Order Instituting Proceedings of Proposed Rule Change To Amend FINRA Rule 4210
- 80 FR 63603 - SROs; FINRA; Notice of Filing of a Proposed Rule Change To Amend FINRA Rule 4210 (Margin Requirements) To Establish Margin Requirements for the TBA Market
Developments
Regulatory Assistance
Comment Letters
- All Letters to the SEC (External link)
- All Letters to FINRA (External link)
- SIFMA Comment Letters (External links)
- SIFMA Comments to the SEC (May 2, 2016)
- SIFMA Comments to the SEC (February 11, 2016)
- SIFMA AMG Supplemental Comments to the SEC (February 11, 2016)
- SIFMA Comments to the SEC (November 10, 2015)
- SIFMA AMG Comments to the SEC (November 10, 2015)
- SIFMA AMG Comments to FINRA (March 28, 2014)
- SIFMA Comments to FINRA (March 28, 2014)
Know:
Materials
SIFMA Materials
- SIFMA TBA Page (External Link)
- SIFMA Uniform Practices (External Links)
- Chapter 1: Introduction
- Chapter 2: Definitions of Common Terms
- Chapter 3: Federal Agency and Government Sponsored Entities
- Chapter 4: Clearance and Settlement Infrastructure
- Chapter 5: General Description of Mortgage Securities and Other Related Products
- Chapter 6: Confirmations
- Chapter 7: Pool Notification Process
- Chapter 8: Standard Requirement for Delivery on Settlements of Fannie Mae, Freddie Mac, and Ginnie Mae Securities (Good delivery guidelines)
- Chapter 9: Structured Products Settlement Procedures
- Chapter 10: Remittance Reporting, Payments, Due Bills and Compensation
- Chapter 11: Delivery, Receipt and Reclamation
- Chapter 12: Notification and Settlement Dates
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