The bank trade body has warned the current European rules are too vague
A trade body that represents the world’s top
futures banks has warned Europe it must address the lack of
detail in the Bank Recovery and Resolution Directive (BRRD)
over 'appropriate protection’ for financial
collateral and netting agreements.
The International Swaps and Derivatives Association said it
has learned from existing national bank regimes the importance
of ensuring the safeguards against the exercise of a partial
property transfer power or contractual modifications are clear
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