Daily Rules, Proposed Rules, and Notices of the Federal Government
The Office of the Assistant Legal Adviser for Private International Law, Department of State, hereby gives notice of a public meeting on UNIDROIT's draft Principles Regarding the Enforceability of Close-out Netting. Close-out netting is a contractual mechanism used by financial institutions and other market participants to reduce their risk exposure, and is thus a key tool for preserving the stability of the financial system. A study group organized by UNIDROIT (the International Institute for the Unification of Private Law) produced a draft set of principles that are intended to serve as a guide for evaluating whether the legal systems in various jurisdictions around the world adequately recognize the enforceability of netting provisions. The draft principles and background documents are available on the UNIDROIT Web site (
The purpose of this public meeting is to obtain the views of concerned stakeholders on these topics in advance of the UNIDROIT meeting. This is not a meeting of the full Advisory Committee.
A member of the public needing reasonable accommodation should advise Ms. Smeltzer or Ms. Toms not later than September 12, 2012. Requests made after that date will be considered, but might not be able to be fulfilled. If you would like to participate by telephone, please contact Ms. Smeltzer or Ms. Toms to obtain the call-in number and other information.