BAFT/ITFA MPA Legal Opinion

Following BAFT and ITFA’s release of the updated BAFT English law Master Participation Agreement (MPA) in September 2018, ITFA is pleased to advise you that the new BAFT/ITFA MPA Legal Opinion is now available to ITFA members in the  Member Area of our website.

Instructed by ITFA, who worked together with BAFT on the new agreement, the MPA Legal Opinion has been drafted by Sullivan & Worcester to assist members with obtaining the opinion required by banks and other financial institutions under the Capital Requirements Regulations (CRR) in order to qualify, where needed, for capital relief in respect of participation agreements entered into under the MPA. The Legal Opinion covers both the enforceability of the MPA and the manner in which it satisfies the CRR criteria.

ITFA members are legally entitled to rely on the opinion.

We hope that all of our members will take the maximum benefit from this important document.