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ISDA published the 2018 U.S. Resolution Stay Protocol. The new Protocol is intended to facilitate compliance by market participants with stay regulations ...
within Intellectual Property, Food, Drugs, Healthcare, Life Sciences and Strategy topic(s)
ISDA published the 2018 U.S. Resolution Stay Protocol. The new
Protocol is intended to facilitate compliance by market
participants with stay regulations issued by the Federal Reserve
Board, the FDIC, and the Office of the Comptroller of the Currency.
These regulations mandate that certain systematically important
banks amend their qualified financial contracts ("QFCs")
so as to impose contractual stays on the early termination rights
of a QFC counterparty following a default by the bank or an
affiliate of the bank.
ISDA stated that it expects to issue further guidance as to the
Protocol in the second half of August 2018.
The first compliance date is January 1, 2019.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
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