The Situation: Banking regulators in the United States have issued the so-called "Resolution Stay Regulations," which require "global, systemically-important banks" ("GSIBs") to amend a broad variety of "qualified financial...more
The Board of Governors of the Federal Reserve System (Board), the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) adopted rules (together, the QFC Stay Rules) in 2017...more
Clients who have engaged in Qualified Financial Contracts (QFCs)—which include derivatives, repurchase agreements and securities lending—with large financial institutions may have received, or may soon receive, a notice...more
As regulators in Europe and elsewhere have done, U.S. banking regulators have introduced new regulations designed to facilitate the resolution of a global systemically important bank (GSIB)....more
U.S. federal banking regulations that go into effect next year require certain major financial institutions to ensure that their qualified financial contracts (QFCs), such as swaps and repurchase agreements, are subject to...more
In the coming weeks and months, investment companies, pension plans, and other buy-side participants (for simplicity, “Funds”) in swaps, repos, securities loans, or other financial contracts will be asked by their dealer...more