Ms Reena Agrawal Sahni

Reena Agrawal Sahni

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Final rule issued on qualified financial contracts: what you need to know
USA | 08 November 2017

The Board of Governors of the Federal Reserve System recently adopted a final rule requiring US global systemically important banking institutions (GSIBs), their subsidiaries and the US operations of foreign GSIBs (covered entities) to amend many of their qualified financial contracts in order to restrict their counterparties' ability to immediately terminate such contracts in the event that the covered entity or an affiliate enters into bankruptcy or resolution proceedings.