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

   www.thegoldensource.com › qfc-recordkeeping

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   Oct 1, 2020 · 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 QFC positions.

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

   www.dentons.com › en › insights

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   Jan 31, 2019 · Notwithstanding the foregoing deadlines, many financial institutions are asking their counterparties to comply well in advance of any applicable dates. 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 ...

3. www.ecfr.gov › current › title-12eCFR :: 12 CFR Part 371 -- Recordkeeping Requirements for ...

   www.ecfr.gov › current › title-12

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   Oct 1, 2024 · (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 person at the records entity who is responsible for recordkeeping under this part and, unless not required to maintain files in electronic form pursuant to § 371.4(d), a directory of the electronic files that will be used to maintain the ...

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

   www.fdic.gov › banker-resource-center

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   Jan 22, 2019 · If after application of all haircuts, the value of the collateral is $108, then the collateral deficiency is $108 -$110 = -$2. However, if the value of the collateral after application of all haircuts is $115, then the collateral excess is $115 - $110 = $5. The -$2 or the $5 is what goes in A2.13 or A2.14.

5. 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 · This provision allows a records entity with fewer than 51 QFC positions at the time it becomes a records entity to maintain these records in any format it chooses, including paper records, so long as the required records are capable of being updated daily, provided that the records entity does not subsequently have 51 or more QFC positions.

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

   www.bnymellon.com › content › dam

   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.

8. www.monticellocg.com › blog › 2018/7/17Qualified Financial Contract (QFC) Recordkeeping Rules ...

   www.monticellocg.com › blog › 2018/7/17

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   Dec 4, 2018 · Sourcing all of a firm’s QFC position and collateral will typically require the evaluation of multiple systems-of-record (“SOR”) and a translation of their data fields into the reporting format required to satisfy the QFC Recordkeeping rules. Most SORs do not capture all of the reference information required under the QFC Recordkeeping rules.

9. People also ask

   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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   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 are the QFC recordkeeping rules?

   • The QFC Recordkeeping Rules provide the FDIC with the immediate information needed to fulfill its capacity as the receiver (when exercising its OLA) of a failed complex FI. The QFC reporting of a failing FI includes a detailed inventory of all open QFC positions to all of its counterparties, including its affiliates.

   Monticello Consulting Group | Qualified Financial Contract

   www.monticellocg.com/blog/2018/7/17/qfc-recordkeeping-rules

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   How long do IDIS need to maintain QFC Records?

   • It has been the FDIC's experience that some IDIs with significant QFC portfolios that were subject to Part 371 needed up to 270 days to establish systems that enabled them to maintain QFC records in accordance with Part 371. Because extensions under Current Part 371 are limited to 30 days, several extensions were necessary.

   Recordkeeping Requirements for Qualified Financial Contracts

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

   See all results for this question

   What are the QFC stay rules?

   • Accordingly, the QFC Stay Rules require all GSIBs to obtain acknowledgements from you and their other QFC counterparties that you will stay (i.e., not exercise) your default rights and not enforce any transfer restrictions against the GSIB to the extent required by the QFC Stay Rules. So what do I have to do?

   The QFC Stay Rules: What they are and why it matters

   www.dentons.com/en/insights/alerts/2019/january/31/the-qfc-stay-rules-what-they-are-and-why-it-matters

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