The ISDA 2025 Notices Hub Protocol enables parties to Protocol Covered Documents to amend the terms of each such Protocol Covered Document to allow for the use of the ISDA Notices Hub Platform.

This protocol (which is NOT an updated version of the August 2012 DF Protocol) facilitates compliance with the CFTC’s rulemakings on (i) Swap Trading Relationship Documentation, Confirmation, Portfolio Reconciliation and Portfolio Compression, (ii) End-User Exception to the Clearing Requirement and (iii) Clearing Requirement Determination.

This Protocol is part of ISDA’s Dodd-Frank Documentation Initiative relating to compliance with the CFTC’s External Business Conduct Rules. Required Compliance Start Date: May 1, 2013.

The ISDA 2018 U.S. Resolution Stay Protocol was created to allow market participants to comply with regulations issued by the Board of Governors of the Federal Reserve System (12 C.F.R. §§ 252.2, 252.81-88), the Federal Deposit Insurance Corporation (12 C.F.R. §§ 382.1-7) and the Office of the Comptroller of the Currency (12 C.F.R. §§ 47.1-8) (US Stay Regulations). The US Stay Regulations impose requirements on the terms of swaps, repos and other qualified financial contracts of global systemically important banking organizations.

This protocol enables parties to Protocol Covered Documents to amend the terms of each such Protocol Covered Document to include in the terms of such Protocol Covered Document new fallbacks for one or more benchmarks, as set out in a Benchmark Module.

This Benchmark Module enables 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 certain terms relating to fallbacks for a Relevant Benchmark included in Version 13.0 of the ISDA 2021 Interest Rate Derivatives Definitions (the “2021 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 JIBOR and JIBAR.