The Dodd-Frank Wall Street Reform and Consumer Protection Act1, commonly known as the Dodd-Frank, defines a very broad QFC. The definition includes all securities contracts, commodity contracts, futures, retirement contracts, swap agreements and similar agreements that the Federal Deposit Insurance Corporation (FDIC) establishes as eligible financial contracts by order, settlement or settlement or order2. The CFQs that are subject to the QFC residence rules discussed below are those that contain certain provisions defined by the U.S. bank supervisory authorities, which are or could be detrimental to the orderly resolution of a GSIB. These are called “in-Scope QFCs” and are the driving force behind the transmission of communication in relation to the communication of your financial institution. A “qualified financial contract” (QFC) is defined to have the same meaning as in the Dodd-Frank Act and would include, among other things, derivatives, deposits, securities lending and credit transactions. B commodity contracts and futures contracts19. However, under the Federal Reserve`s final rules and the final rules of the OCC20, the governing contract is subject to these rules with respect to QFCs that are reserved with a U.S. branch or a U.S.
agency of foreign GSIB (i.e. they are reserved in an entity covered by an entity). QFC`s rules include the definition of QFC in the Dodd-Frank Act, which includes all securities contracts, commodity contracts, futures, pension contracts, swap agreements and similar agreements that can be defined by U.S. regulators to be covered by the definition of QFC. The definition of QFC also includes security agreements and credit enhancements, such as credit support schedules, guarantees or repayment obligations related to contracts that meet the definition of QFC.