Lawyers say the International Swaps and Derivatives Association's new resolution stay protocol gives buy-siders enough flexibility for them to accept a loss of termination rights in a bank resolution.
Asset managers had fretted that they would breach their fiduciary duty to investors if they signed up to an agreement with banks that gave up rights to close their derivatives positions, repo and security lending ties if the bank got into trouble.
Isda's Jurisdictional Modular Protocol (JMP), publi
The week on Risk.net, October 6-12, 2017Receive this by email
- SGX, HKEX expect to be among first wave of Mifid II equivalence
- Leaked EU doc could shield legacy swaps from clearing grab
- Quantile, TriOptima face off in cleared swaps compression battle
- ABS set for revival under US Treasury’s liquidity buffer plans
- Quants stymied by lack of alternative risk premia flows data