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 1. Protocols
 2. ISDA Hong Kong Jurisdictional Module to the ISDA Resolution Stay
    Jurisdictional Modular Protocol


ISDA HONG KONG JURISDICTIONAL MODULE TO THE ISDA RESOLUTION STAY JURISDICTIONAL
MODULAR PROTOCOL

Open from September 24, 2021


 * Overview
 * FAQ

The Hong Kong Jurisdictional Module was created to allow market participants to
comply with the Financial Institutions (Resolution) (Contractual Recognition of
Suspension of Termination Rights—Banking Sector) Rules (Cap. 628C, laws of Hong
Kong) made by the “Monetary Authority” under section 92 of the Financial
Institutions (Resolution) Ordinance (Cap. 628, laws of Hong Kong) (Hong Kong
Regulation).

The Hong Kong Jurisdictional Module to the ISDA Resolution Stay Jurisdictional
Modular Protocol enables entities subject to the Hong Kong Regulation to amend
the terms of their Covered Agreements by obtaining from certain counterparties a
contractual recognition of the application of stays on termination with respect
to requirements of the Hong Kong Regulation.

Please refer to the “Frequently Asked Questions” below for more information.

The Hong Kong 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 Hong
Kong Jurisdictional Module. There is no cut-off date to the Hong Kong
Jurisdictional Module. ISDA does, however, reserve the right to designate a
cut-off date by giving 30 days’ notice on this.

ISDA has prepared this list of frequently asked questions to assist in your
consideration of the HONG KONG JURISDICTIONAL MODULE to the ISDA RESOLUTION STAY
JURISDICTIONAL MODULAR PROTOCOL (the ISDA Jurisdictional Modular Protocol).

THESE FREQUENTLY ASKED QUESTIONS DO NOT PURPORT TO BE AND SHOULD NOT BE
CONSIDERED A GUIDE TO OR AN EXPLANATION OF ALL RELEVANT ISSUES OR CONSIDERATIONS
IN CONNECTION WITH THE HONG KONG JURISDICTIONAL MODULE. PARTIES SHOULD CONSULT
WITH THEIR LEGAL ADVISERS AND ANY OTHER ADVISER THEY DEEM APPROPRIATE PRIOR TO
USING OR ADHERING TO THE HONG KONG JURISDICTIONAL MODULE. ISDA ASSUMES NO
RESPONSIBILITY FOR ANY USE TO WHICH ANY OF ITS DOCUMENTATION MAY BE PUT.

These FAQs address the following questions:

 * What is the purpose of the Hong Kong Jurisdictional Module?
 * How does adherence to the Hong Kong Jurisdictional Module and the ISDA
   Jurisdictional Modular Protocol work?
 * How does the Hong Kong Jurisdictional Module relate to the Hong Kong
   Regulation?
 * Why are certain terms in italics and others in quotation marks?
 * What agreements are Covered Agreements under the Hong Kong Jurisdictional
   Module?
 * What entities are Regulated Entities under the Hong Kong Jurisdictional
   Module?
 * When does the Hong Kong Jurisdictional Module become effective?
 * What are the compliance dates for the Hong Kong Regulation?
 * How do I sign up to the Hong Kong Jurisdictional Module?

The ISDA Jurisdictional Modular Protocol is designed to facilitate market
participants’ compliance with regulations regarding contractual stays in certain
financial contracts not governed by Hong Kong law. As regulations are adopted in
a jurisdiction, a “Jurisdictional Module” to the ISDA Jurisdictional Modular
Protocol can be published that includes operational provisions based on the text
of that regulation and aimed at enabling parties to comply with those
requirements. A party can adhere to a particular Jurisdictional Module by
submitting an Adherence Letter for such Jurisdictional Module. Each
Jurisdictional Module is considered individually. For more information on the
ISDA Jurisdictional Modular Protocol and adherence to the ISDA Jurisdictional
Modular Protocol, please see the general FAQs for the ISDA Jurisdictional
Modular Protocol.

The Hong Kong Jurisdictional Module was published as a Jurisdictional Module to
the ISDA Jurisdictional Modular Protocol on 24 September 2021.

You can download the full FAQ here.

Adhere to this Protocol View Adhering Parties ISDA Hong Kong Jurisdictional
Module - Text will open in a new tab or window ISDA Hong Kong Jurisdictional
Module - FAQs will open in a new tab or window ISDA Resolution Stay
Jurisdictional Modular Protocol - Text will open in a new tab or window ISDA
Resolution Stay Jurisdictional Modular Protocol - General FAQs will open in a
new tab or window
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