Counsel

3064-AE54 201710 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 3064 Federal Deposit Insurance Corporation FDIC Recordkeeping Requirements for Qualified Financial Contracts

The FDIC amended its regulations regarding Recordkeeping Requirements for Qualified Financial Contracts (Part 371), which require insured depository institutions (IDIs) in a troubled condition to keep records relating to qualified financial contracts (QFCs) to which they are party. The final rule augments the scope of QFC records required to be maintained by an IDI that is subject to the FDIC’s recordkeeping requirements and that has total consolidated assets equal to or greater than $50 billion or is a consolidated affiliate of a member of a corporate group one or more members of which are subject to the QFC recordkeeping requirements set forth in the regulations adopted by the Department of the Treasury (a full scope entity); for all other IDIs subject to the FDIC’s QFC recordkeeping requirements, adds and deletes a limited number of data requirements and makes certain formatting changes with respect to the QFC recordkeeping requirements; requires full scope entities to keep QFC records of certain of their subsidiaries; provides an exemption process; and includes certain other changes, including changes that provide additional time for certain IDIs in a troubled condition to comply with the regulations.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Completed Actions No No Independent agency 12 CFR 371 12 U.S.C. 1819(a)(Tenth) 12 U.S.C. 1820(g) 12 U.S.C. 1821(e)(8)(D) 12 U.S.C. 1831g 12 U.S.C. 1831i 12 U.S.C. 1831s No NPRM 12/28/2016 81 FR 95496 NPRM Comment Period End 02/27/2017 Final Rule 07/31/2017 82 FR 35584 Final Rule Effective 10/01/2017 Email: comments@fdic.gov. Include RIN 3064-AE54 on the subject line of the message. No No None No No www.fdic.gov/regulations/laws/federal/ www.fdic.gov/regulations/laws/federal/ No No Phillip Sloan E. Counsel 3064 Federal Deposit Insurance Corporation FDIC 703 562-6257 psloan@fdic.gov VS-E-7012, 3501 Fairfax Drive, Arlington VA 22226 Marc Steckel Deputy Director 3064 Federal Deposit Insurance Corporation FDIC 202 898-3618 msteckel@fdic.gov 550 17th Street NW, Washington DC 20429 George Alexander Assistant Director, Division of Resolutions and Receiverships 3064 Federal Deposit Insurance Corporation FDIC 202 898-3718 galexander@fdic.gov 550 17th Street NW., Washington DC 20429