Buy-siders eye ways to get ahead of US resolution stay rules
Come July 1, asset managers will be unable to dump derivatives as a G-Sib is unwound. Lawyers are standing by
When global regulators first floated the idea of freezing bilateral derivatives during bank resolutions, asset managers were astounded. Industry groups railed against the proposal; lawyers called it “absurd” and “insane”. Asset managers threatened to dump the contracts at the first sign of trouble.
But with the July 1 go-live date for the Federal Reserve’s resolution stay rule approaching
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