I offer in advance my thanks to our Session Chairs and Panelists in the topic discussions later today and tomorrow for the wealth of insight they will impart into our deliberations. My deepest gratitude also to those who have travelled from the provinces and from abroad to take part in our first national strategy for financial inclusion and financial literacy workshop.
In the event of a counterparty’s default, such agreements permit the termination of all transactions with the counterparty and the netting of the resulting gains and losses. For many years, market participants have been putting such master agreements in place and working with legislatures to ensure that national laws support the enforceability of netting.