Results 1-10 of 106
The Prospectus Regulation and Debt Prospectuses: A PD3 Primer - Levels 1, 2 and 3 (and other measures)
26 June 2019
This briefing on PD3 measures highlights the key features of Levels 1, 2 and 3, particularly in relation to debt.
25 February 2019
The question of how much latitude a Non-defaulting Party has when calculating Loss under the 1992 ISDA Master Agreement is considered in the judgment in Lehman Brothers Finance AG (in liquidation) v (1) Klaus Tschira Stiftung GmbH (2) Dr H C Tschira Beteiligungs...
29 August 2018
How do our values influence business decisions? How does an organisation instil an ethical culture? These are questions with which business leaders are increasingly having to grapple. At a recent event hosted by Clifford Chance in collaboration with the Canary...
3 August 2018
The English High Court has ruled on whether the standard form ISDA 1995 Credit Support Annex contains an obligation to pay negative interest. The Court's judgment confirms that, where parties have not otherwise agreed how to address negative interest rates,...
IBOR fallbacks for derivatives – ISDA consultation on term and spread adjustments for floating rates
17 July 2018
ISDA released its "Consultation on Certain Aspects of Fallbacks for Derivatives Referencing GBP LIBOR CHF LIBOR, JPY LIBOR, TIBOR, Euroyen TIBOR and BBSW" on 12 July 2018. The Consultation seeks feedback on proposed amendments to the 2006 ISDA Definitions...
GMRAs and determining 'Fair Market Value': Broad discretion of the non-defaulting party re-affirmed by Court of Appeal
14 May 2018
The English Court of Appeal has ruled on the construction of the close-out default valuation provisions under a repo agreement. The Court's judgment reaffirms that, in reaching a determination of "fair market value", the non-Defaulting party has considerable...
28 February 2018
The legal recognition of close-out netting provisions in financial contracts is increasingly significant to parties in the UAE, particularly as the region advances implementation of Basel III principles. The consequences of non-netting impacts a wide range of UAE...
23 August 2017
虽然伦敦银行间同业拆借利率（LIBOR）作为金融市场基准利率已逾三十载，但自从英国金融服务监管局（FSA）2012年对LIBOR操纵丑闻展开调查（即“Wheatley Review”）以来，LIBOR始终面临压力。英国金融行为监管局（FCA）首席执行官Andrew Bailey最近于7月27日发表了讲话 ，预示LIBOR可能终将谢幕。市场主体需要未雨绸缪，应对LIBOR可能在2021年底后终止公布。本文将讨论这一问题的成因，并评估其对市场主体实践操作及文本层面的影响
28 July 2017
Although a bedrock of the financial markets for over 30 years, LIBOR has been under pressure ever since the Wheatley Review, and a speech by Andrew Bailey, Chief Executive of the UK's Financial Conduct Authority on 27 July heralds its potential demise. Market...
5 July 2017
On 30 June 2017, Regulation (EU) 2017/1129, the Prospectus Regulation was published in the Official Journal of the European Union. The Prospectus Regulation will enter into force on 20 July, although only a few provisions will take effect on that date and most...