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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 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 ...
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 ...
Oct 28, 2016 · October 28, 2016. Earlier today, the Secretary of the Treasury, as chairperson of the Financial Stability Oversight Council adopted a final rule (“Final Rule”) implementing recordkeeping requirements for qualified financial contracts (“QFCs”) in connection with Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act ...
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 ...
Jan 17, 2019 · Top 5 Challenges for QFC Recordkeeping Compliance. Identifying all in-scope products and data: QFCs cover a wide range of products, including swaps, repos, securities lending/borrowing ...
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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 ...
