implied reverse transaction (placement) definition
implied reverse transaction (placement) means a reverse transaction where - depending on the agreement of the parties - the pledgee is entitled (at his own discretion) to return the pledged assets at the selling price or at another price determined by the parties at (by) a predetermined time or at a later date of pledgee’s choice upon occurrence of a forward condition and the pledger is to accept the assets under such conditions. An agreement in which the pledgee undertakes the commitment to return the pledged assets at a predetermined time or at a date to be specified by the pledger and the pledger does not reserve the right - through clauses installed in the contract - to exercise control over the pledged assets shall also be construed an implied reverse transaction. Implied reverse transactions shall be accounted according to the general rules on the sale of financial instruments;