Buy side may need ‘persuasion’ to give up termination rights

Counterparties that refuse to give up their rights could be subjected to “moral and regulatory persuasion”, says Bafin president, Elke König

A photo of bafin president elke koenig
Elke König, Bafin

Termination rights currently enjoyed by derivatives counterparties could make it impossible for resolution authorities to effectively resolve a big, failed bank – a barrier that must be torn down, according to Elke König, president of Germany's prudential regulator, the Bundesanstalt für Finanzdienstleistungsaufsicht (Bafin).

"If, as a resolution authority, you look at an organisation and have a beautiful plan for resolution, you have to consider that whatever action you take will immediately

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