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Financial Institutions Advisory & Financial Regulatory, Time and Money

Nov 08, 2017

Final Rule Issued on Qualified Financial Contracts: What You Need to Know

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On September 1 2017 the Board of Governors of the Federal Reserve System adopted a final rule requiring US global systemically important banking institutions (GSIBs), their subsidiaries and the US operations of foreign GSIBs (covered entities) to amend many of their qualified financial contracts (QFCs) in order to restrict their counterparties' ability to immediately terminate such contracts in the event that the covered entity or an affiliate enters into bankruptcy or resolution proceedings.

View full memo, Final Rule Issued on Qualified Financial Contracts: What You Need to Know

Authors and Contributors

Joel Moss

Partner

Financial Restructuring & Insolvency

+1 212 848 4693

+1 212 848 4693

New York

Geoffrey Goldman

Partner

Derivatives & Structured Products

+1 212 848 4867

+1 212 848 4867

New York

Reena Agrawal Sahni

Partner

Financial Institutions Advisory & Financial Regulatory

+1 212 848 7324

+1 212 848 7324

New York

Donna Parisi

Partner

Derivatives & Structured Products

+1 212 848 7367

+1 212 848 7367

New York

Azam Aziz

Partner

Derivatives & Structured Products

+1 212 848 8154

+1 212 848 8154

New York

Timothy J. Byrne

Counsel

Financial Institutions Advisory & Financial Regulatory

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+1 212 848 7476

New York

Ned S. Schodek

Partner

Financial Restructuring & Insolvency

+1 212 848 7052

+1 212 848 7052

New York

Fredric Sosnick

Partner

Financial Restructuring & Insolvency

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+1 212 848 8571

New York