Bankowość · 19/08/2016

Office of the Comptroller of the Currency Proposes Enhanced Contractual Stay Requirements for Financial Institutions

The OCC is proposing new rules to strengthen the resilience and safety and soundness of federally chartered banks, aiming to prevent default rights from interfering with the orderly resolution of systemically important financial firms. The proposed rule would require banks to include a contractual stay-and-transfer provision in certain financial contracts, similar to those under the Dodd-Frank Act.