Treasury announced that, after the necessary consultation with the FDIC and the SEC, it is providing a retail broker-dealer with a conditional exemption from certain Dodd-Frank recordkeeping requirements for certain of its qualified financial contracts.
In a report to several Congressional committees, GAO reviewed proposed and enacted changes to the U.S. Bankruptcy Code relating to the Orderly Liquidation Authority.
ISDA updated its Model Netting Act, which provides a template for jurisdictions considering enforcing close-out netting.
The Board of Governors of the Federal Reserve System adopted a final rule on total loss-absorbing capacity intended to help government authorities "resolve in an orderly way the largest domestic and foreign banks operating in the United States" without "support from taxpayer-provided capital."
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.