The Clearing House Association filed a comment letter with the Bank of England’s Prudential Regulation Authority (PRA) responding to its Consultation Paper which would require the contractual adoption of resolution stays in certain financial contracts governed by non-EEA law. In the letter, TCH broadly supports the PRA’s proposal and also requests certain adjustments, including: adoption of a more robust framework requiring the amendment of existing transactions and coordination of the final rule’s timing with anticipated regulations in the U.S.
You Might Also Be Interested In...
Resolution & Recovery Planning BPI Response to Guidance for Resolution Plan Submissions of Domestic and Foreign Triennial Filers
Regulatory Reporting and Accounting BPI Response to FDIC Resolution Plans Required for Insured Depository Institutions With $100 Billion or More in Total Assets
More Posts by This Author
Basel Finalization The Empire Strikes Back: How the Basel Proposal Would Shift Credit Allocation from the Private Sector to the Government
Consumer Affairs Banks Support National Strategy to Identify Opportunities and Barriers to Financial Inclusion