One Year Ago In Derivatives Week
The Malaysia Deposit Insurance Corp. floated a proposal to ease the process of close-out netting in the country. The consultation paper allowed close-out netting to occur 10-days after MDIC has taken control of an institution in default if the firm hadn’t contacted its derivatives counterparties. [The act became law Dec. 30 and included a provision for close-out netting of derivatives transactions after a short stay. Industry officials criticized the law for not going far enough (DW, 3/22).]
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