2022 Bilateral Amendment Agreement - Deliverable Ruble FX, Currency Option and Swap Transactions

Aug 31, 2026

2022 Bilateral Amendment Agreement用于更新双方在生效日仍存续的可交割卢布（Ruble）外汇、货币期权与互换交易条款。文件规定以EMTA 2022标准模板为依据，对结算汇率期权（Settlement Rate Option）相关参考价格、回退参考价格与估值日的业务日规则进行替换与新增，并确定伦敦时间10:00的指定时间。同时，协议明确签署对存续交易的修改效力及其他条款保持不变，并就法律效力、管辖与责任承担作出约定。

LanguageEnglish

CategoryForms

FormatDOCX

Pages3

Reading Time1 min

AccessFree to download

Section 1. Amendments

Section 2. Effect of this Amendment

Section 3. Miscellaneous

May 13, 2022 EMTA assumes no responsibility or liability, legal or otherwise, for interpreting any Bilateral (or other) Amendment, verifying the authority of any signatory or any institution to sign Bilateral (or other) Amendment, the enforceability of the Bilateral or for any disputes that may arise among signatories to any Bilateral (or other) Amendment. Parties using the Bilateral Amendment make their own determinations (including as to any financial and legal consequences of signing an Amendment) on the foregoing matters, accept full responsibility for doing so and agree to indemnify EMTA, its agents, officers and representatives from and against any liability whatsoever in connection with its use of the Bilateral (or other) Amendment. FORM OF 2022 BILATERAL AMENDMENT AGREEMENT FOR DELIVERABLE RUBLE FX, CURRENCY OPTION AND SWAP TRANSACTIONS THIS BILATERAL AMENDMENT AGREEMENT (this “Amendment”) dated and effective ____________, 2022 (the “Effective Date”) is by and between _______________ and _________________ (each, a “Party” and together, the “Parties”). WHEREAS, pursuant to Recommended FX and Currency Derivatives Market Practice No. 98 on Updated Template Terms for RUB Non-Deliverable FX Forward, Currency Option and Cross Currency FX Transactions dated April 20, 2022, EMTA has revised and updated its recommended standard terms, effective June 6, 2022, for Russian Ruble non-deliverable FX forward, currency option and cross currency FX transactions (the “EMTA 2022 Template Terms”); WHEREAS, the Parties have previously entered into certain transactions that are outstanding on the Effective Date that may include deliverable FX forward, deliverable currency option, deliverable cross-currency FX forward and deliverable cross-currency currency option transactions that have been amended pursuant to the terms of the ISDA/EMTA 2022 Amendment Agreement to Incorporate Additional Provisions for use with a Deliverable Currency Disruption Event for RUB foreign exchange transaction dated March 2, 2022 (the “ISDA/EMTA 2022 DCDE Letter Agreement”) to allow for non-deliverable settlement of such transactions), and/or deliverable cross-currency swap and deliverable interest rate swap transactions involving Russian Ruble payments that incorporate the settlement rate option, fallback and various other provisions included in (x) the Additional Provisions for use with Deliverable Currency Disruption Events (dated as of 3 November 2008) (the “2008 Additional Provisions”) or (y) the Additional Provisions for use with Deliverable Currency Disruption Events (2021 Definitions) (dated as of 30 December 2021) (the ”2021 Additional Provisions”), each as published by the International Swaps and Derivatives Association, Inc. (ISDA), to allow for non-deliverable settlement of such transactions, and (i) and (ii) together, being referred to herein as “Outstanding Deliverable Ruble Transactions”), WHEREAS, the Parties now wish to amend the terms of the Outstanding Deliverable Ruble Transactions between them; and NOW, THEREFORE, the Parties agree as follows: SECTION 1. Amendments. As of the Effective Date, and unless otherwise agreed by the Parties, the confirmation (or other governing documentation) for each Outstanding Deliverable Ruble Transaction between the Parties is amended to incorporate the EMTA 2022 Template Terms as follows: to replace the designation of “RUB MOEX (RUB05)” as the Settlement Rate Option (or other similar term) for such Transactions with a reference to “WM/Refinitiv MID (WMR03)”, to add “RUB MOEX (RUB05)” as a Fallback Reference Price and to make the Fallback Reference Price the first applicable Disruption Fallback, to add “WMR Business Day” (as defined in the EMTA 2022 Template Terms) as a Business Day for Valuation Date for Settlement Rate Option, to designate Moscow as a Relevant City for Business Day for Valuation Date for Fallback Reference Price; and to add a Specified Time for the Settlement Rate Option of 10:00 am (London ti

FAQs

本协议的生效日与适用对象是什么？

协议以“Effective Date”作为生效日，适用于该日仍存续的双方“Outstanding Deliverable Ruble Transactions”，并对其确认或其他治理文件作出相应修订。

协议具体对结算汇率期权与回退参考价格做了哪些调整？

文件将原“RUB MOEX (RUB05)”指定为回退参考价格，并使回退参考价格采用第一项适用的Disruption Fallback；同时把结算汇率期权的参考改为“WM/Refinitiv MID (WMR03)”。

本协议对存续交易的其他条款有无影响？

除Section 1中明确列示的修订外，本协议不影响任何其他条款；存续交易其余条款继续完全有效。

本协议的准据法与争议管辖如何约定？

争议处理仅为本协议所生争议目的，双方同意受适用主协议（或等同协议）所适用法律约束；若无则以文中所列“New York”法律作为兜底，并约定提交至相关司法管辖。

Aug 31, 2026

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