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Oct 1, 2020 · QFC Recordkeeping reports. Under QFC Recordkeeping there are 128 data fields that must be reported on, and of those, 96 are unique. They are broken up into 8 different types, which need to be organized in 8 standardized tables: Position Level Data – QFCs with their external counterparties. Collateral Detail Data – collateral items linked to ...
Jan 22, 2019 · Recordkeeping Requirements for Qualified Financial Contracts (QFCs) - Technical Points. Share This: The following frequently asked questions and answers are intended to help records entities interpret the Part 371 data requirements. They were prepared by, and represent the views of, the staff of the Federal Deposit Insurance Corporation (the ...
Jan 31, 2019 · The QFC Stay Rules are complex. Your Dentons contact can help you in navigate these rules and determine the best way to comply with them. Pub.L. 111–203, H.R. 4173. ↩. 12 U.S.C. §1821 (e) (8) (D). This statute further defines “securities contract,” “commodity contract,” “forward contract,” “repurchase agreement” and “swap ...
Yes. The US QFC Stay Rules require GSIBs to obtain resolution stay consents from counterparties (and conform all new QFCs to the same requirements) within a specified timeline. The first compliance deadline under the US QFC Stay Rules is January 1, 2019, for all in-scope QFCs between GSIB covered entities.
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Jul 31, 2017 · The final rule augments the scope of QFC records required to be maintained by an IDI that is subject to the FDIC's recordkeeping requirements and that has total consolidated assets equal to or greater than $50 billion or is a consolidated affiliate of a member of a corporate group one or more members of which are subject to the QFC recordkeeping requirements set forth in the regulations ...
Oct 1, 2024 · This part establishes recordkeeping requirements with respect to qualified financial contracts for insured depository institutions that are in a troubled condition. (c) Compliance dates. (1) Within 3 business days of becoming a records entity, the records entity shall provide to the FDIC, in writing, the name and contact information for the ...
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Dec 4, 2018 · The broad nature of the QFC Recordkeeping rules requires FIs to perform extensive upfront scoping work to ensure that all legal entities and QFC products are properly identified. For large institutions, this requires a detailed review of the corporate organization chart and a detailed analysis of a firm’s QFC activities in capital markets, prime brokerage, treasury, asset management and ...
