ISDA published an update of its Model Netting Act, designed to provide a template that can be used by jurisdictions considering legislation to ensure the enforceability of close-out netting.
The Model Netting Act draws on ISDA’s 30 years of experience of working with policy-makers and regulators across the globe on close-out netting legislation, and provides guidance and model provisions for those legislators looking to increase legal certainty under local law for netting. The 2018 act and accompanying guide expand upon previous versions, with updates to reflect the widespread adoption of bank resolution regimes, the introduction of mandatory margin requirements and the growth of Islamic finance.
The webinar explains the act and guide in more detail.
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