The 2020 UK (PRA Rule) Jurisdictional Module (the 2020 UK Module) to the ISDA Resolution Stay Jurisdictional Modular Protocol enables entities subject to the UK Prudential Regulation Authority (UK PRA) rule on contractual stays in financial contracts governed by third-country law to amend the terms of their Covered Agreements with certain counterparties to comply with the UK PRA rule, by obtaining from such counterparties a contractual recognition of the application of stays on or overrides of termination rights under the UK Banking Act, as required by the UK PRA rule.
Pursuant to the European Union (Withdrawal) Act 2018 (as amended from time to time) certain EU law (and EU-derived domestic legislation) will be retained in UK domestic law from 31 December 2020. As part of that process certain amendments have been made to the ‘Stay In Resolution’ part of the PRA rulebook (the 2020 PRA Rule). The 2020 UK Module has been created to allow market participants to comply with the 2020 PRA Rule.

The ISDA 2021 SBS Protocol (the SBS Protocol) is part of ISDA’s Dodd-Frank Documentation Initiative aimed at assisting the industry in implementing and complying with the regulatory requirements imposed under Title VII of the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).
This protocol enables parties to enter into ISDA SBS Protocol Master Agreements (as defined in the Agreement) and/or supplement the terms of Protocol Covered Agreements (as defined in the Agreement) by incorporating therein selected portions of the ISDA SBS Protocol Supplement I (the “SBS Supplement I”) and/or the ISDA SBS Protocol Supplement II (the “SBS Supplement II” and, together with SBS Supplement I, the “SBS Supplements”), each published on the date hereof.

The Hong Kong Jurisdictional Module to the ISDA Resolution Stay Jurisdictional Modular Protocol enables entities subject to the Hong Kong Regulation to amend the terms of their Covered Agreements by obtaining from certain counterparties a contractual recognition of the application of stays on termination with respect to requirements of the Hong Kong Regulation.

This benchmark module enable parties to Protocol Covered Documents to amend the terms of each such Protocol Covered Document to (i) in respect of a Protocol Covered Document which incorporates, or references a rate as defined in, a Covered ISDA Definitions Booklet, include in the terms of such Protocol Covered Document either the terms of, or a particular defined term included in, for the purposes of this Benchmark Module, Supplement 90 to the 2006 ISDA Definitions, or such equivalent provisions as they relate to that Covered ISDA Definitions Booklet and (ii) in respect of a Protocol Covered Document which otherwise references a Relevant Benchmark, include in the terms of such Protocol Covered Document new fallbacks for that Relevant Benchmark. Relevant Benchmarks include BKBM Bid, BKBM FRA, NIBOR, MIFOR, PHIREF, KLIBOR, STIBOR and SIOR.

The ISDA 2022 ISDA Russia Additional Provisions Protocol is relevant for parties that have outstanding credit derivatives transactions referencing the Russian Federation or Gazprom Public Joint Stock Company (“Gazprom”), including referencing any index that contains the Russian Federation or Gazprom. These entities were included in various sanctions orders from Canada, the European Union, Japan, Switzerland, the United Kingdom and the United States of America, which prohibit transactions related to certain types of debt obligations of the Russian Federation and other entities related to the Russian Federation (including Gazprom).
**IMPORTANT UPDATE** The Cut-off Date for adherence to this Protocol has been extended to Wednesday, April 27, 2022. The Cut-off Time remains 12:00 p.m., New York time. The Revocation Deadline is extended to Thursday, April 28, 2022 at 12:00 p.m. New York time. The Implementation Date is now Monday, May 2, 2022.
**IMPORTANT UPDATE on the ISDA 2022 Russia Additional Provisions Protocol:** This protocol is now closed as of 12 pm, New York time, on Wednesday, April 27, 2022 and per the terms of the protocol agreement you are no longer able to submit an adherence letter for this protocol. The Revocation Deadline is Thursday, April 28, 2022 at 12:00 p.m. New York time.
**IMPORTANT UPDATE on the ISDA 2022 Russia Additional Provisions Protocol:** The Revocation Deadline has now passed. ISDA has determined that eight Reference Banks have adhered to the Protocol as at 12pm New York time on Thursday April 28, 2022, and therefore the Protocol Effectiveness Condition is satisfied.

This benchmark module enables parties to Protocol Covered Documents which incorporate or reference the USD LIBOR Swap Rate as defined in a Covered ISDA Definitions Booklet, to amend the terms of each such Protocol Covered Document to include in the terms of such Protocol Covered Document the terms of, or a particular defined term included in, either version 3.0 of the 2021 Definitions or Supplement 88 to the 2006 Definitions, each as published by ISDA and effective on November 10, 2021 (as applicable), or such equivalent provisions as they relate to that Covered ISDA Definitions Booklet.