Application to Swaps Sample Clauses

Application to Swaps. Swaps subject to the Commission’s jurisdiction under Title VII of the Xxxx- Xxxxx Act would appear to be subject to orderly liquidation under either Title II they fall under the definition of ‘‘qualified financial contract’’ under those two statutes.21 The definition of qualified financial contract is identical under both Title II and FDIA and includes securities contracts, commodity contracts,22 forward contracts, repurchase agreements, swap agreements, and any other contract determined by the FDIC to be a qualified financial contract. The Commission recognizes the potential for regulatory arbitrage if the definition of qualified financial contract does not apply to swaps under Title VII. Moreover, the Commission believes that should the need for an orderly liquidation of any systemically important swap dealer or major swap participant arise, it would be most appropriate and practicable for all swaps held on the books of those entities to be considered to be part of a comprehensive and orderly resolution process.
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Related to Application to Swaps

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