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ISDA 2022 Russia Additional Provisions Protocol

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.

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ISDA 2019 NTCE Protocol – Reopened from January 6, 2020 to January 24, 2020

The ISDA 2019 NTCE Protocol allows parties to amend their legacy transactions to incorporate the 2019 Narrowly Tailored Credit Event Supplement to the 2014 ISDA Credit Derivatives Definitions.

**IMPORTANT UPDATE on the ISDA 2019 NTCE Protocol** The Cut-off Date for adherence to this Protocol has been further extended to Friday, November 8, 2019 at 12 noon. The Cut-off Time for purposes of revoking adherence remains 5:00 p.m. New York time.

**IMPORTANT UPDATE on the ISDA 2019 NTCE Protocol:** This protocol originally closed as of 12 pm, New York time, on Friday, November 8, 2019. ISDA determined that nine Reference Banks have adhered to the Protocol as at 5pm New York time on Friday, November 8, 2019, and therefore the Protocol Effectiveness Condition is satisfied. Please note that the Implementation Date has been extended to January 27, 2020.

**IMPORTANT UPDATE on the ISDA 2019 NTCE Protocol:** The protocol reopened on Monday, January 6, 2020 and will remain open until 12 noon New York time on Friday, January 24, 2020 to allow new market participants time to adhere to the Protocol and for any adherence errors to be corrected. We note that entities that have already adhered do not need to do anything further, as your adherence remains valid.

** ICE Clear Credit LLC, ICE Clear Europe Limited and LCH S.A. have notified ISDA that it has received all relevant regulatory authorizations and will implement on the Implementation Date equivalent amendments to those made under the Protocol, and therefore the CCP Condition is satisfied. **

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ISDA 2019 German Bank CDS Protocol

The Protocol is relevant for parties that entered into credit derivatives transactions referencing German banks. On July 21, 2018, a change in German law allowed German banks to issue two types of senior unsecured debt obligations – senior preferred and senior non-preferred. On November 26, 2018, the ISDA Credit Steering Committee issued a statement regarding changes to the documentation practice for credit default swap transactions referencing German banks to allow for trading of CDS on both senior preferred and senior non-preferred terms. The Protocol amends legacy transactions referencing certain German banks to apply these new documentation terms to ensure fungibility with new transactions.
**IMPORTANT UPDATE** The Cut-off Date for adherence to this Protocol has been extended to Friday, April 26, 2019. The Cut-off Time remains 5:00 p.m., New York time. The Implementation Date is now May 11, 2019.

**IMPORTANT UPDATE on the ISDA 2019 German Bank CDS Protocol:** This protocol is now closed as of 5 pm, New York time, on Friday, April 26, 2019, and per the terms of the protocol agreement you are no longer able to submit an adherence letter for this protocol. ISDA has determined that ten Reference Banks have adhered to the Protocol as at 5pm New York time on Friday, April 26, 2019, and therefore the Protocol Effectiveness Condition is satisfied.

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ISDA 2017 Venezuela Additional Provisions Protocol

The ISDA 2017 Venezuela Additional Provisions Protocol allows parties to amend their legacy transactions referencing República Bolivariana de Venezuela (“Venezuela”) or Petroleos de Venezuela, S.A. (“PdVSA”), including relevant index transactions, to apply the new terms in ISDA’s Additional Provisions for Certain Venezuelan Entities: Excluded Obligations and Excluded Deliverable Obligations. The new terms address sanctions issued by the U.S. government through Executive Order 13808 on August 24, 2017, which prohibits transactions related to certain types of debt obligations of Venezuela and other entities related to Venezuela (including PdVSA).
**IMPORTANT UPDATE** The Cut-off Date for adherence to this Protocol has been extended to Wednesday, October 25, 2017. The Cut-off Time remains 5:00 p.m., New York time. The Implentation Date is now Thursday, October 26, 2017.
**IMPORTANT UPDATE on the ISDA 2017 Venezuela Additional Provisions Protocol:** This protocol is now closed as of 5 pm, New York time, on Wednesday, October 25, 2017 and per the terms of the protocol agreement you are no longer able to submit an adherence letter for this protocol. ISDA has determined that nine Reference Banks have adhered to the Protocol as at 5pm New York time on Wednesday October 25, 2017, and therefore the Protocol Effectiveness Condition is satisfied.

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ISDA 2014 Resolution Stay Protocol

The ISDA 2014 Resolution Stay Protocol enables parties to amend the terms of their Protocol Covered Agreement to contractually recognize the cross-border application of special resolution regimes applicable to certain financial companies and support the resolution of certain financial companies under the United States Bankruptcy Code. The Protocol has been replaced with the ISDA 2015 Universal Resolution Stay Protocol. This ISDA 2014 Resolution Stay Protocol is now closed.

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ISDA 2014 Credit Derivatives Definitions Protocol

The 2014 ISDA Credit Derivatives Definitions Protocol amends certain credit derivative transactions to incorporate the 2014 ISDA Credit Derivatives Definitions in place of the 2003 ISDA Credit Derivatives Definitions.

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ISDA 2013 ICE Brent Protocol

The ISDA 2013 ICE Brent Protocol offers market participants an efficient way to amend the terms of certain derivatives transactions to address the impact of the decision by ICE Futures Europe (“ICE”) to (i) change expiry dates for ICE Brent futures and options contracts to a month-ahead expiry calendar with respect to March 2016 and later contract months and (ii) require a cash adjustment as a result of such change (the “ICE Brent Transition”).

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