Contractual Recognition Clauses – BRRD II Update

Last Thursday and in association with ICMA, ISLA held a joint briefing session with Clifford Chance on BRRD II, considering the impacts on securities financing legal documentation when it comes into effect on 28 December 2020.

The briefing included a recap of the current BRRD contractual requirements as well as a summary of the changes being introduced by BRRD II. In addition, Clifford Chance discussed the interaction of BRRD II with the existing contractual stay regimes, highlighting compliance issues for the consideration of member firms.

The accompanying presentation that has been put together by Clifford Chance, is now available to ISLA members through the website, and by clicking here.

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