Two recent programs delved into the issues that fund managers may face in times of financial stress under counterparty agreements. The programs also offered guidance on preparing for and managing those issues during the coronavirus pandemic. The first program featured K&L Gates partners Barry B. Cosgrave, Kenneth Holston, Brian D. Koosed and Anthony R.G. Nolan, as well as counsel Robert T. Honeywell. The second, sponsored by Women in Funds and Kleinberg Kaplan, featured Kleinberg Kaplan partners Jared R. Gianatasio and Mary Kuan. This two-part series presents the key takeaways from those two presentations. This second article explains swaps and repurchase agreements, and it provides guidance on how fund managers can manage those agreements in times of crisis. The first article discussed counterparty trading relationships generally during the coronavirus pandemic and provided a specific look at how to navigate relations with prime brokers. See our two-part series “A Fund Manager’s Guide to the Initial Margin Rules for Uncleared Swaps”: Part One (Sep. 27, 2018); and Part Two (Oct. 4, 2018). See also “Best Practices for Fund Managers When Entering Into ISDAs: Negotiation Process and Tactics (Part One of Three)” (Jan. 12, 2017).