On November 12, 2015, the International Swaps and Derivatives Association re-launched the ISDA Resolution Stay Protocol. The new Protocol, called the ISDA 2015 Universal Resolution Stay Protocol, was developed in coordination with the Financial Stability Board. The ISDA 2015 Universal Resolution Stay Protocol includes an annex covering securities financing transactions, developed by ISDA with the International Capital Market Association, the International Securities Lending Association and the Securities Industry and Financial Markets Association. 21 financial institutions have adhered to the new Protocol and ISDA expects more to do so. By adhering to the Protocol, relevant parties are able to amend the terms of Protocol Covered Agreements and opt in to existing and forthcoming resolution regimes, ensuring that cross-border derivatives and securities financing transactions are covered by statutory stays on cross-default and early termination rights under the US Bankruptcy Code, should a counterparty enter into resolution.

The Protocol is available at: http://assets.isda.org/media/ac6b533f-3/5a7c32f8.pdf