Special Resolution Regime Underwriting Agreement

to limit direct default rights against insured companies that are subject to a resolution of the Federal Deposit Insurance Act (FDIA) (which regulates the settlement of filing institutions insured by the FDIC) or Under II of the Dodd-Frank Act in management by the Orderly Liquidation Authority (which governs certain systemically important financial institutions) (together as special solutions in the United States) , including) and allow the final rules to access and exercise payment rights to late payments, in limited circumstances, by a non-failing consideration to certain covered CFQs related to the liquidation of certain affiliate credit enhancements that support these covered QFCs, subject to various requirements (including, but not limited, at the expiry of a fixed stay period). The final rules also include creditor protection provisions that allow creditors to exercise certain default rights outside of an orderly resolution of an insured company and are therefore not intended to interfere with such a resolution. Overall, these safeguards include: to achieve these regulatory results, final rules (1) ensure cross-border application of special solution regimes in the United States by requiring insured companies to incorporate explicit terms into their covered CFQs (subject to certain limited exceptions) under which the insured unit counterparties agree to exercise their direct default rights only to the extent provided for by U.S. Special Regulations , if such a regime is subject to applicable foreign jurisdiction) and (2) the concerns of U.S. regulators regarding the treatment of certain cross-rights insolvency schemes, requiring insured companies to incorporate explicit conditions into some of their covered CFQs, which prohibit the counterparties of the insured company from exercising a number of cross-law rights directly or indirectly related to the bankruptcy , liquidation, liquidation or similar procedure of a subsidiary of the insured company. a contractual or other right of a party to liquidate, terminate, terminate, terminate, revoke or expedite an agreement or other transaction, to exercise compensation or net amounts, to exercise guarantee remedies or any other credit or property support, to demand payment or delivery, to suspend, to defer or defer payment or benefit , or to modify the obligations of a party or similar rights and to allow the exercise of a “cross-by-default” right that is linked to the “cross-by-default” right. , directly or indirectly, at the end of the liquidation of a subsidiary of the insured company or the final rules, which are part of this strategy by limiting the malfunctions to a failing GSIB, by limiting counterparties to certain specific financial contracts (for example, derivatives. B, repurchase transactions and securities lending and credit transactions), limiting certain specified default and cross-rate fees to GSIB by introducing restrictions and prohibitions directly into these financial contracts15. , to ensure that a court enforces the effect of these provisions in a foreign jurisdiction, regardless of whether or not the court has decided to apply the U.S. law itself.