Federal Reserve Board Restricts QFC Cancellation Rights
Published:
Sep 12, 2017
The Board of Governors of the Federal Reserve System ("FRB") adopted a new rule (the "final rule") that requires U.S. global systemically important banking institutions ("GSIBs"), all GSIB subsidiaries (other than certain subsidiaries regulated by the OCC) and the U.S. operations of foreign GSIBs to amend qualified financial contracts ("QFCs")...
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