Past Projects / HARMONISATION OF NETTING PROVISIONS

The EFMLG is making public on its website a Report on the 'Protection for Bilateral Insolvency Set-off and Netting Agreements under European Community Law' which identifies various legal uncertainties resulting from the EU Insolvency Regulation, Collateral Directive and Banks Winding-up Directive. The EFMLG notes that an opportunity to clarify Community law on the scope of protection for insolvency close-out netting arrangements might arise during a possible review of the Collateral Directive. The EFMLG would urge the Commission to take advantage of such a review process to also amend and expand the Collateral Directive's close-out netting provisions.

REPORT: the regulation of close-out netting in the new Member States of the European Union (October 2005)

REPORT: Protection for bilateral insolvency set-off and netting agreements under EC law (October 2004) [pdf, 452Kb] & Chairman's letter of 2 November 2004