Triparty Repo is an important part of the US pension market and the clause-for-clause commentary and full text of bank of New York Mellon Tri-party Custodial Repo Agreement (2016) is also provided. — The new Bank of New York Mellon Tri-Party Custodial Repo Agreement (2016). — A summary of recent developments in the European and US pension markets since 2012. — New examples of clauses that the parties are trying to negotiate in these agreements. — A complete and easy-to-navigate table of contents to quickly find items of major interest. This new third edition mainly offers readers a detailed guide to the most widespread European and American repo framework contracts, through clause-by-clause text and a commentary on each framework contract. This commentary is written in clear English in order to obtain a good and rapid understanding of the effects of each provision.