ISDA plans to publish a legal opinion recognising China as a jurisdiction in which close-out netting can be applied, paving the way for a more diversified onshore derivatives transactions.
May 5, 2022The final version of the law further improves derivatives trading supervision and specifies rules for foreign institutions operating in China.
April 21, 2022The HKMA may issue directions to banks or their holding companies if it believes non-compliance with the Stay Rules (including by a related company) may impede orderly resolution.
December 31, 2021Singapore banks have three years to ensure their foreign law financial contracts recognise MAS' temporary stay powers regarding termination rights.
November 3, 2021ISDA says the revised draft incorporates several comments it made in its submission to the consultation on the first draft.
October 28, 2021Banks have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during a bank resolution.
June 28, 2021SIFIs will be required to prepare recovery and resolution plans and submit them to the FSS within three months from being designated.
June 23, 2021SIFIs will have 3 months after designation to submit recovery plans to regulators. The FSC will have the authority to demand action from a SIFI in line with its recovery plan.
February 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, 2021