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ISDA UK (PRA Rule) Jurisdictional Module to the ISDA Resolution Stay Jurisdictional Modular Protocol
The UK (PRA Rule) Jurisdictional Module to the ISDA Resolution Stay Jurisdictional Modular Protocol enables entities subject to the UK Prudential Regulation Authority’s (UK PRA) final rule on contractual stays in financial contracts governed by third-country law (PRA 2015/82) to amend the terms of their Covered Agreements with certain counterparties to comply with the UK PRA’s final rule, by obtaining from such counterparties a contractual recognition of the application of stays on or overrides of termination rights under the UK Banking Act, as required by the UK PRA final rule.
Please refer to the “Frequently Asked Questions” below for more information.
The UK (PRA Rule) Jurisdictional Module is open to ISDA members and non-members.Parties will pay a one-time fee of $500 to ISDA for each adherence to the UK (PRA Rule) Jurisdictional Module. There is no cut-off date to the UK (PRA Rule) Jurisdictional Module. ISDA does, however, reserve the right to designate a cut-off date by giving 30 days’ notice on this site.