How To Comply With Qualified Financial Contract Rules
Law360 (January 24, 2019, 1:08 PM EST) -- In the fall of 2017, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency promulgated new rules as part of their ongoing efforts to address the “too-big-to-fail” problem.
The new rules require U.S. global systemically important banking organizations, or GSIBs, as designated by the Basel Committee on Banking Supervision and the Financial Stability Board, the subsidiaries of U.S. GSIBs (including state member and nonmember banks and state savings associations and most of their subsidiaries), national banks or federal savings associations that have more than $700 billion in...
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