Examples of Qualifying master netting agreement in a sentence
Qualifying master netting agreement (“QMNA”) was defined in the 2011 proposal, based on the definition of the term in the Federal banking agencies’ risk-based capital rules applicable to derivatives positions held by insured depository institutions and bank holding companies.89 A few commenters expressed concern with the 2011 proposal’s definition of QMNA.
ANNEX 2 Qualifying master netting agreement: the effects of bilateral netting agreements covering repo-style transactions will be recognised on a counterparty-by- counterparty basis if the agreements are legally enforceable in each relevant jurisdiction upon the occurrence of an event of default and regardless of whether the counterparty is insolvent or bankrupt.
Section 3.2 is amended in the definition of Qualifying master netting agreement in paragraph (2)(i)(A) by removing ‘‘; or’’ and adding a period in its place.■ 3.
Annex 2 Qualifying master netting agreement: the effects of bilateral netting agreements covering repo-style transactions will be recognised on a counterparty-by- counterparty basis if the agreements are legally enforceable in each relevant jurisdiction upon the occurrence of an event of default and regardless of whether the counterparty is insolvent or bankrupt.
Alternatives to fair value Fair value accounting may have certain drawbacks, but it is more conceptually robust than alternative accounting treatments, such as the historic cost method, “buy and hold” and “target date” approach.
In order to recognize an agreement as a qualifying cross-prod- uct master netting agreement as de- fined in § 3.101, a national bank or Fed- eral savings association must obtain a written legal opinion verifying the va- lidity and enforceability of the agree- ment under applicable law of the rel- evant jurisdictions if the counterparty fails to perform upon an event of de- fault, including upon receivership, in- solvency, liquidation, or similar pro- ceeding.(d) Qualifying master netting agree-ment.
Section 3.2 is amended in the definition of Qualifying master netting agreement in paragraph (2)(i)(A) by removing “; or” and adding a period in its place.
ANNEX 2 Qualifying master netting agreement: the effects of bilateral netting agreements covering repo-style transactions will be recognised on a counterparty-by-counterparty basis if the agreements are legally enforceable in each relevant jurisdiction upon the occurrence of an event of default and regardless of whether the counterparty is insolvent or bankrupt.
Qualifying master netting agreement: agreements must be legally enforceable in each relevant jurisdiction upon the occurrence of an event of default and regardless of whether the counterparty is insolvent or bankrupt.
Revise the definition of ‘‘Qualifying master netting agreement’’ to read as follows:§ 329.3 Definitions.* * * * *Qualifying master netting agreement means a written, legally enforceable agreement provided that:for purposes of this subpart, an FDIC- supervised institution must comply with the requirements of § 329.4(a) with respect to that agreement.* * * * *By order of the Board of directors of the Federal Deposit Insurance Corporation.Dated: September 20, 2016.Valerie J.