fails to perform upon an event of de- fault, including upon receivership, in- solvency, liquidation, or similar pro- ceeding.Qualifying Master Netting Agreement • November 17th, 2021
the CCP as a QCCP for up to three months following the determination. If the CCP fails to remedy the relevant deficiency within three months after the initial determination, or the CCP fails to satisfy the requirements set forth in paragraphs (2)(i) through (2)(iii) of the definition of a QCCP con- tinuously for a three-month period after remedying the relevant defi- ciency, a national bank or Federal sav- ings association may not treat the CCP as a QCCP for the purposes of this part until after the national bank or Fed- eral savings association has deter- mined that the CCP has satisfied the requirements in paragraphs (2)(i) through (2)(iii) of the definition of a QCCP for three continuous months.
fails to perform upon an event of de- fault, including upon receivership, in- solvency, liquidation, or similar pro- ceeding.Qualifying Master Netting Agreement • August 12th, 2021
procedures to monitor possible changes in relevant law and to ensure that the agreement continues to satisfy the re- quirements of the definition of quali- fying master netting agreement in § 3.2.
Qualifying master netting agreementQualifying Master Netting Agreement • May 5th, 2020
Qualifying master netting agreement means a written, legally enforceable agreement provided that: (1) The agreement creates a single legal obligation for all individual transactions covered by the agreement upon an event of default following any stay permitted by paragraph (2) of this definition, including upon an event of receivership, conservatorship, insolvency, liquidation, or similar proceeding, of the counterparty; (2) The agreement provides the FDIC-supervised institution the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set-off collateral promptly upon an event of default, including upon an event of receivership, conservatorship, insolvency, liquidation, or similar proceeding, of the counterparty, provided that, in any such case, (i) Any exercise of rights under the agreement will not be stayed or avoided under applicable law in the relevant jurisdictions, other than: (A) In receivership, conservatorship, o
ContractQualifying Master Netting Agreement • June 11th, 2024
Federal Reserve System § 217.10Qualifying Master Netting Agreement • January 24th, 2020
agreement as defined in § 217.2, a Board- regulated institution must:Qualifying Master Netting Agreement • April 28th, 2020
Federal Register / Vol. 89, No. 74 / Tuesday, April 16, 2024 / Notices 27003Qualifying Master Netting Agreement • April 16th, 2024
a well-founded basis (and maintain sufficient written documentation of that legal review) that: (i) the agreement meets the requirements of the definition of qualifying master netting agreement in section 50.3 and (ii) in the event of
Federal Register / Vol. 89, No. 132 / Wednesday, July 10, 2024 / Notices 56811Qualifying Master Netting Agreement • July 10th, 2024
a well-founded basis (and maintain sufficient written documentation of that legal review) that: (i) the agreement meets the requirements of the definition of qualifying master netting agreement in section 50.3 and (ii) in the event of
■ a. Redesignate footnote 1 as footnote 2.; and ■ b. Revise the definition of ‘‘Qualifying master netting agreement’’ to read as follows:Qualifying Master Netting Agreement • October 15th, 2016
ContractQualifying Master Netting Agreement • November 17th, 2021
Qualifying master netting agreementQualifying Master Netting Agreement • May 5th, 2020
Qualifying master netting agreement means a written, legally enforceable agreement provided that: (1) The agreement creates a single legal obligation for all individual transactions covered by the agreement upon an event of default following any stay permitted by paragraph (2) of this definition, including upon an event of receivership, conservatorship, insolvency, liquidation, or similar proceeding, of the counterparty; (2) The agreement provides the national bank or Federal savings association the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set-off collateral promptly upon an event of default, including upon an event of receivership, conservatorship, insolvency, liquidation, or similar proceeding, of the counterparty, provided that, in any such case, any exercise of rights under the agreement will not be stayed or avoided under applicable law in the relevant jurisdictions, other than: (i) In receivership, conse
Qualifying master netting agreementQualifying Master Netting Agreement • May 5th, 2020
Qualifying master netting agreement means a written, legally enforceable agreement provided that: (1) The agreement creates a single legal obligation for all individual transactions covered by the agreement upon an event of default, including upon an event of receivership, insolvency, liquidation, or similar proceeding, of the counterparty; (2) The agreement provides the FDIC-supervised institution the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set off collateral promptly upon an event of default, including upon an event of receivership, insolvency, liquidation, or similar proceeding, of the counterparty, provided that, in any such case, any exercise of rights under the agreement will not be stayed or avoided under applicable law in the relevant jurisdictions, other than in receivership, conservatorship, resolution under the Federal Deposit Insurance Act, Title II of the Dodd-Frank Act, or under any similar inso
ContractQualifying Master Netting Agreement • March 3rd, 2015
Qualifying Master Netting Agreement in the Interim Final Rule and the Proposed Rule, since we would be subject to a stay from a source other than (i) the FDIA, (ii) Title II of the Dodd‐Frank Act, (iii) similar laws applicable to government‐sponsored enterprises, or (with respect to the Interim Final Rule and the Proposed Rule only) (iv) similar laws of foreign jurisdictions. We would then be subject to higher collateral requirements and credit charges by our counterparties, which would impact our ability to use swaps to manage risk.
