The CBIRC seeks to clarify the enforceability of close-out netting in China, saying the labelling of the country as a “non-netting jurisdiction” has harmed its financial institutions.
December 2, 2021ISLA collated clauses and variants used with master agreements and identified how firms configure and add to the standard provisions to create a set of common clauses.
October 21, 2021Implementation will occur in two phases, the first for contracts where the only counterparties are HKMA-authorised institutions and/or FIs that are part of G-SIBs.
January 4, 2021FIs will have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during bank resolution.
January 23, 2020