Trade body also introduced a protocol for UK Prudential Regulation requirements
Trade body the International Swaps and
Derivatives Association (Isda) has launched a protocol that
will enable market participants to comply with new resolution
The new resolution regulations are aimed
at ensuring that cross-border trades are still enforceable
after a bank fails.
"Regulators want to ensure cross-border
trades are subject to statutory resolution requirements, and
have begun to issue regulations requiring firms to opt in to
the resolution regimes of their bank counterparties. This
protocol enables market participants to efficiently and
flexibly comply with those requirements," said Scott
O’Malia, the Isda’s chief
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