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 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.

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.

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.