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

USA - Shearman & Sterling LLP

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.

Authors: Joel Moss, Geoffrey B Goldman, Reena Agrawal Sahni
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Recent updates

Donna M Parisi CFTC extends and revises relief for position aggregation requirements and notice filings

USA - Shearman & Sterling LLP

Authors: Donna M Parisi, Geoffrey B Goldman, Azam H Aziz, Nicholas Emguschowa