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      "text": "Our derivatives entities would be sub-investment grade and would not re-establish investment grade status at any point in the wind-down. As a result, we would have no access to the bilateral OTC market and we would therefore use exchange-traded and cleared instruments for hedging purposes.",
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      "text": "To the extent it would be economically justified, counterparties (external or affiliates) would exercise their contractual termination rights consistent with any rights stayed by the ISDA Resolution Stay Protocols or other applicable protocols.",
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      "text": "The ability to wind down our derivative inventory in an orderly manner is a critical component of our efforts to ensure that we can be resolved without significant risk to the financial system. The preferred resolution strategy for our derivative inventory is an orderly and active wind-down of all positions over an 18-month period.",
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