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FRAMEWORK
Pre-Early Termination Date and Delivery of Section 6(d) statements of Early Termination Amount
Pre-Early Termination Date and Delivery of Section 6(d) statements of Early Termination Amount
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This analysis contains a high-level summary of certain key elements of the stays on early termination rights and remedies that may apply under US and EU/UK regulations, the terms of which are detailed and complex and therefore not all addressed. Parties should review the relevant stay regimes in full and apply the terms to their specific circumstances, consulting independent advisors as appropriate.
Further, EU BRRD is required to be implemented into domestic legislation by each EU Member State. Parties should review such implementing legislation to determine whether there is any ‘gold-plating’ or any other divergence between the Level 1 text (BRRD) and the domestic regime.
At the time of publication, there was no material divergence between BRRD and UK ‘onshored’ BRRD for the purposes of this analysis, however divergence may occur in the future. ISDA will use best efforts to update this resource accordingly, however no representation as to accuracy is made and readers should consult with appropriate independent advisors.