Update: U.S. Resolution Stay Final Rules and the Impact on Special Purpose Vehicles used in Securitizations, Repackagings and other Structured Products

Key Takeaways: By specified compliance dates, Covered Entities will be required to amend their existing Covered QFCs under the Final Rule to include appropriate limitations on counterparty default rights, and transfer restrictions that arise in connection with bankruptcy or insolvency proceedings of such Covered Entities and their affiliates. On July 31, 2018, ISDA published the 2018 U.S. Resolution Stay Protocol, prepared in conformity with requirements of the U.S. Protocol con