Will mandatory stays on defaults decrease confidence in securities finance? (Premium)

A new rule approved by the Federal Reserve ensures that counterparties can’t terminate derivatives contracts (QFCs) on large banks that that are in default or a resolution process. A proposal from the European Commission wants a moratoria on termination of derivatives for banks that are in default or are heading that way. The same rules apply to securities finance. Will mandatory stays change market behavior in selecting counterparties?
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