In two executive memoranda, President Trump directed the Treasury Department to review the processes in place for the Financial Stability Oversight Council and the framework for the Orderly Liquidation Authority.
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ISDA added a Japanese jurisdictional module to its Resolution Stay Jurisdictional Modular Protocol. The new module is intended to facilitate compliance with Japanese regulations that require contractual stays to be included in certain financial contracts that are not governed by Japanese law.
ISDA CEO Scott O'Malia urged resolution authorities to "maximize" certainty, predictability and transparency when dealing with central counterparty recovery efforts.
The MFA warned that a Federal Reserve Board proposal to restrict the qualified financial contracts of systemically important U.S. banking organizations could "harm the stability of the financial markets while also eroding long-standing and deeply rooted rights of investors, end users and other market participants."
ISDA launched a Resolution Stay Jurisdictional Modular Protocol intended to help market participants comply with newly amended regulations relating to the cross-border enforceability of stays on contractual termination rights.