On April 9, 2015, the International Capital Market Association (ICMA) published the 2015 legal opinions on the Global Master Repurchase Agreement (GMRA), the principal standard agreement used to document repo transactions.

The updated legal opinions cover both the enforceability of the netting provisions of the GMRA and the validity of the GMRA as a whole. The opinions are available to ICMA members from the ICMA website.