Tag: Resolution Stay Protocol
More Wet Towels on Order as ISDA Relaunches Resolution Stay Protocol
On 12 November 2015, ISDA relaunched the ISDA 2014 Resolution Stay Protocol (now called the “ISDA 2015 Universal Resolution Stay Protocol”). Twenty-one major banks have signed the 2015 protocol at launch. Both the 2014 protocol and the 2015 protocol seek to address the question of “too big to fail”. Specifically, they look to tackle the […]
ISDA 2014 Resolution Stay Protocol stayed
On 26 August 2015, ISDA announced that the 2014 Stay Protocol is to undergo revisions. Although it remains open, it is not expected that any market participant would adhere at this time. On the same day, in its comment to the PRA Consultation Paper on contractual stays in financial contracts governed by third-country law, ISDA […]