Jurisdiction(s):
United Kingdom

Key definition

Derivatives definition

What does Derivatives mean? Derivatives are contracts used to transfer or manage risk, whose value is determined by an underlying asset, interest rate, currency, index, commodity, security or credit event. Common types include futures, options, swaps (interest rate and currency), forwards and credit derivatives (such as credit default swaps), traded on exchanges or over the counter. Legally, derivatives create payment or delivery obligations calculated by reference to the underlying. They are typically documented under an ISDA Master Agreement with a Credit Support Annex for collateral, and depend on close-out netting upon default. Key issues include counterparty capacity and authority, governing law and jurisdiction,...

2015 UK and EU banking & finance regulatory calendar: key deadlines, consultations and implementation milestones for lawyers

Published by a LexisNexis Banking & Finance expert

Practice notes

Key dates for Banking & Finance lawyers to look out for: 2015 [Archived]

January 2015

1: The International Swaps and derivatives Association (isda) resolution stay protocol takes effect, developed with the FSB to facilitate cross-border resolution and limit systemic risk—see ISDA press release.
1: Member states must transpose the main elements of the Bank Recovery and Resolution Directive (BRRD)—see bank of england publication.
1: Changes to the bank levy announced in the 2014 Budget begin to apply—see bank levy consultation paper.
2: The Eurepo index is discontinued—see ICMA press release.
6: Closing date for responses to the ring-fencing consultation. Under the PRA’s proposals, firms may seek modifications to ring-fencing rules. Views are requested on policy matters including legal structure, governance, and arrangements for continuity of services and facilities—see LNB News 06/10/2014 55 and the consultation paper.
10: The Brussels I recast regulation comes into application—see the LexisNexis Dispute Resolution Blog for details.
14: Final date to respond to the European Banking Authority’s (EBA) discussion paper on simple, standard and transparent securitisations—see EBA press release...

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Web page updated on 21/05/2026

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