FSB: 14 Global Banks to Adopt ISDA® "Crisis Clause" for OTC Derivatives Contracts by November | Practical Law
The Financial Stability Board (FSB) announced that it has received commitment from 14 global systemically important banks (G-SIBs) and other large dealer banks to adhere to an ISDA protocol that would delay early termination rights under the ISDA Master Agreements among these institutions. The initiative is designed to facilitate orderly cross-border resolution of failed G-SIBs and other large global banks.