ISDA August 2012 Dodd-Frank Protocol

In order to facilitate compliance with certain rules described below (the "Covered Rules") that have been promulgated under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. No. 111-203, 124 Stat. 1376 (2010)) (the "Dodd-Frank Act") and that will become effective on October 12, 2012, the International Swaps and Derivatives Association, Inc. ("ISDA") has launched the ISDA August 2012 Dodd-Frank Protocol (the "Protocol"), which provides for certain standardized amendments to existing ISDA documentation. The Protocol is open to both ISDA members and non-members. This update will briefly describe the documentation and procedures for the Protocol. Information about the Protocol can also be found on ISDA's website.