Banks plan to write off derivatives when a counterparty fails

``People familiar with the matter said 18 bank "dealers," ranging from Credit Suisse to Goldman Sachs, have agreed to give up the right to pull the plug on derivatives contracts with a crisis-stricken institution... Regulators are working to compel asset managers and hedge funds to accept the new protocols. Some of them argue they cannot voluntarily give up the right to cut off business with a failing bank because of a fiduciary duty to protect their investors' interests.''