The Long and Short of It

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Synthetic Securitisation relies heavily on underlying credit derivatives and similarly structured guarantees, and has had the benefit of two new EU “Amendment Regulations“, both of which came into force on 9 April 2021. The Amendment Regulations amend the EU Securitisation Regulation and the Capital Requirements Regulation (the “CRR“) and implement, the eagerly-anticipated,  STS (simple, transparent and standardised) framework for balance sheet synthetic securitisations. CLICK HERE for our detailed analysis of the Amendment Regulation and new…
It’s now almost three months since the 2020 ISDA IBOR Fallbacks Protocol (the “Protocol“) went live.  In April, a US “legislative solution” became law for tough LIBOR legacy derivatives contracts governed by New York law, and in Germany the German Banking Association’s “Supplementary Agreement for IBOR Succession”, is gathering momentum. In our latest, slide packed, video webinar ( CLICK HERE ) Mayer Brown partners Edmund Parker  and Patrick Scholl Patrick Scholl reflect on: How successful…
Have you met Anna? Well actually, although experts in the market pronounce it Anna, it’s spelt “AANA”. Annually, or perhaps “AANAually” since 2016, with the notable exception of 2020, the breadth of derivatives counterparties in-scope for posting initial margin under the global margin rules, has expanded. Back in 2016, a “Phase 1” derivatives counterparty needed a book of EUR 3 trillion of uncleared derivatives to have to post initial margin. By 2017, six “Phase 2”…
Who wants to see digitalisation of legal contracts? Well certainly the derivatives contingent of the financial services industry which is battling increasingly complex standard documentation, streams of regulatory re-papering projects, and the continuous need to put in place age-old favourites such as the ISDA Master Agreement. Let’s focus on the ISDA Master Agreement, the hugely successful framework document underpinning most OTC derivatives trading.…