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1. www.thegoldensource.com › qfc-recordkeepingUnderstanding QFC Recordkeeping and how to comply - GoldenSource

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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 ...

2. www.fdic.gov › banker-resource-centerRecordkeeping Requirements for Qualified Financial ... - FDIC

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   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 ...

3. www.dentons.com › en › insightsThe QFC Stay Rules: What they are and why it matters

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   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 ...

4. www.federalregister.gov › documents › 2017/07/31Recordkeeping Requirements for Qualified Financial Contracts

   www.federalregister.gov › documents › 2017/07/31

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   Jul 31, 2017 · The FDIC is amending its regulations regarding Recordkeeping Requirements for Qualified Financial Contracts (“Part 371”), which require insured depository institutions (“IDIs”) in a troubled condition to keep records relating to qualified financial contracts (“QFCs”) to which they are party. The final rule augments the scope of QFC ...

5. www.bnymellon.com › content › damWhy am I receiving these FAQs? What are the US QFC Stay Rules?

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   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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6. www.transcendstreet.com › product › qfc-recordkeepingQFC Recordkeeping: Efficient and Compliant | Transcend

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   QFC Recordkeeping Compliance: Top 5 Challenges and Benefits. Meet QFC recordkeeping requirements with technology that links positions, collateral & agreements and validates and submits reports.

7. People also ask

   What is QFC recordkeeping?

   • Transcend sums it up nicely: [QFC Recordkeeping] requires that financial firms produce one consolidated report for all in-scope entities within a corporate group, capturing end-of-day positions of QFCs for in-scope products, along with their governing agreements, collateral, margin, counterparty info and related reference data.

   Understanding QFC Recordkeeping and how to comply - GoldenSource

   www.thegoldensource.com/qfc-recordkeeping-understanding-compliance/

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   What does the final rule mean for QFC recordkeeping?

   • The final rule will harmonize QFC recordkeeping requirements for full scope entities in troubled condition with the Part 148 requirements for other members of their corporate groups.

   Recordkeeping Requirements for Qualified Financial Contracts

   www.federalregister.gov/documents/2017/07/31/2017-15488/recordkeeping-requirements-for-qualified-financial-contracts

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   Do I need to maintain QFC Records in electronic form?

   • Under the proposed rule (as under Current Part 371), the requirement to maintain QFC records in electronic form is inapplicable to entities with less than 20 QFC positions, provided that the required QFC data is maintained in a manner that is capable of being updated on a daily basis.

   Recordkeeping Requirements for Qualified Financial Contracts

   www.federalregister.gov/documents/2017/07/31/2017-15488/recordkeeping-requirements-for-qualified-financial-contracts

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   How many data fields are required for QFC recordkeeping?

   • 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: Counterparty Netting Set Data – aggregated QFC and collateral positions under a netting agreement

   Understanding QFC Recordkeeping and how to comply - GoldenSource

   www.thegoldensource.com/qfc-recordkeeping-understanding-compliance/

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   What is a QFC & how does it work?

   • According to the FDIC (page 11), a QFC includes swaps, repo and reverse repo transactions, securities lending and borrowing transactions, commodity contracts, and forward agreements.

   Understanding QFC Recordkeeping and how to comply - GoldenSource

   www.thegoldensource.com/qfc-recordkeeping-understanding-compliance/

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   How long does it take to maintain QFC information?

   • Therefore it is difficult to accurately estimate. The final rule provides some relief from compliance costs relative to Current Part 371 by extending the time period allotted for an institution in troubled condition to start maintaining the required QFC information from 60 days to 270 days, with the exception of accelerated records entities.

   Recordkeeping Requirements for Qualified Financial Contracts

   www.federalregister.gov/documents/2017/07/31/2017-15488/recordkeeping-requirements-for-qualified-financial-contracts

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8. www.monticellocg.com › 17 › qfc-recordkeeping-rulesQualified Financial Contract (QFC) Recordkeeping Rules ...

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   Dec 4, 2018 · The rules further require a detailed listing of 3rd party vendors and affiliates that provide critical QFC-related services. Implementation Steps and Key Challenges: 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.