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Pensions de titres (repos) et autres cessions temporaires

RICHA, Alexandre

Abstract

Les pensions de titres ou repos constituent une évolution fondamentale en matière de détention de titres ainsi que de gestion des liquidités et de financement. Elles ont remplacé en bonne partie les crédits interbancaires et sont devenues le principal outil des banques centrales pour gérer le niveau de liquidités sur les marchés. Une proportion considérable de titres est ainsi régulièrement engagée dans de telles opérations, ce qui ne va pas sans poser de délicates questions juridiques et comptables. Cet ouvrage procède à une analyse guidée par la fonction – fonction de financement garanti (general collateral repo ou pension générale), et parfois fonction de cession temporaire de titres spécifiques (special repo ou pension spéciale) – exercée par les pensions de titres, ainsi que par leur impact en termes de risques de marché et de contrepartie. Elle se détache ainsi des critères formels et terminologiques habituels qui biaisent le raisonnement, pour étudier plusieurs questions essentielles de droit des contrats, droit des sociétés, droit boursier, droit comptable et en matière de [...]

RICHA, Alexandre. Pensions de titres (repos) et autres cessions temporaires . Genève : Schulthess, 2008, 348 p.

Available at:

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Pensions de titres (repos) et autres cessions temporaires

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PUBLICATIONS DU

CENTRE DE DROIT BANCAIRE ET FINANCIER www.unige.ch/cdbf

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Pension de titres (repos)

et autres cessions temporaires

Alexandre Richa

s

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Information bibliographique de ‹Die Deutsche Bibliothek›

Die Deutsche Bibliothek a répertorié cette publication dans la Deutsche National- bibliografie; les données bibliographiques détaillées peuvent être consultées sur Internet à l’adresse ‹http://dnb.ddb.de›.

Tous droits réservés. Toute traduction, reproduction, représentation ou adaptation intégrale ou partielle de cette publication, par quelque procédé que ce soit (gra- phique, électronique ou mécanique, y compris photocopie et microfilm), et toutes formes d’enregistrement sont strictement interdites sans l’autorisation expresse et écrite de l’éditeur.

© Schulthess Médias Juridiques SA, Genève · Zurich · Bâle 2008 ISBN 978-3-7255-5553-6

www.schulthess.com

Alexandre Richa est avocat et docteur en droit de l’Université de Genève. Il est également titulaire d’un LL.M. de la Harvard Law School. Après avoir travaillé au Centre de droit bancaire et financier de l’Université de Genève, il a rejoint l’étude Lenz & Staehelin.

Thèse n° 786 de la Faculté de droit de l’Université de Genève

Cet ouvrage fait, en général, état du droit en vigueur au 31 août 2007.

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