4506. Obligation to make coupon payments

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    1. A repurchase agreement or reverse repurchase agreement seller must receive payment from the repurchase agreement or reverse repurchase agreement buyer of any income on the securities that the seller would have been entitled to if it had not entered the repurchase agreement or reverse repurchase agreement transaction.

    2. A repurchase agreement or reverse repurchase agreement buyer does not need to transfer an amount equal to the income payment to the repurchase agreement or reverse repurchase agreement seller, but can apply it to reduce the amount transferred to the repurchase agreement or reverse repurchase agreement buyer at the end of the transaction. All repurchase agreements or reverse repurchase agreements are priced this way, unless otherwise agreed.

    There is no history log for this rule.

    There is no history log for this rule.