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RegTalks: So what about the HKMA Contractual Stays?
Description
Following the announcement of the Financial Institutions (Resolution) (Contractual Recognition of Suspension of Termination Rights—Banking Sector) Rules, all counterparties with existing non-Hong Kong law financial contracts embedded with an early termination right must ensure they are compliant with these rules before the regulatory deadline of February 2024 - by adhering to the Hong Kong Jurisdictional Module found on the ISDA website, signing an Omnibus Amendment Agreement or bilaterally amending their contracts.
Listen as Navin Desor, Head of Legal, Markets and Securities Services, HSBC, Asia-Pacific and Deborah Hajasi, Head of Markets Regulatory Change, HSBC, Asia-Pacific take a look with Michael Small, Project Manager, Transformation, Markets and Securities Services, HSBC, at the ‘what’, ‘why’, ‘when’, ‘who’, ’how’ and ‘what-if’ of the Stay Rules.
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