For Member Institutions

Notices and Announcements

Notices and Announcements

Period of Stay under the Netting of Financial Agreements Act 2015

The Netting of Financial Agreements Act (“The Act”) will come into force on 30 March 2015. The Act supports the development of the Malaysian financial market by providing assurance that the close-out netting mechanism for financial transactions is enforceable under the law. Bank Negara Malaysia, Perbadanan Insurans Deposit Malaysia and Pengurusan Danaharta Malaysia Berhad hereby gives notice to any affected person, that effective from 30 March 2015, a stay period of two-business days will be prescribed under the Act, during which the enforceability of the netting provision in a qualified financial agreement will be stayed.

For further information, kindly contact:

Bank Negara Malaysia / Perbadanan Insurans Deposit Malaysia / Pengurusan Danaharta Malaysia Berhad
23 March 2015