EBU Single Rulebook Q&A 24 January 2022 2022_6345 Encumbrance duration of reverse repo in NSFR when the received collateral has been sold short

When the received collateral through a reverse repo has been sold outright, what should the encumbrance duration for the reverse repo be? In the instruction on reporting of items requiring stable funding (Annex XIII, point 17), it states that “The residual maturity of this encumbrance shall be the higher between: i) the residual maturity of the transaction where the assets were borrowed and ii)