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TREAS/OCC RIN: 1557-AE05 Publication ID: Fall 2017 
Title: Mandatory Contractual Stay Requirements for Qualified Financial Contracts 
Abstract:

The OCC plans to issue a final rule that mitigates potential negative impacts that could result from the disorderly resolution of certain systemically important national banks, Federal savings associations, Federal branches and agencies, and the subsidiaries of these entities. A covered bank would be required to ensure that a covered qualified financial contract (i) contains a contractual stay-and-transfer provision analogous to the statutory stay-and-transfer provisions imposed under title II and the Federal Deposit Insurance Act and (ii) limits the exercise of default rights based on the insolvency of an affiliate of the covered bank.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: Undetermined 
EO 13771 Designation: Independent agency 
CFR Citation: 12 CFR 3    12 CFR 47    12 CFR 50   
Legal Authority: 12 U.S.C. 1 et seq.    12 U.S.C. 93a    12 U.S.C. 161    12 U.S.C. 481    12 U.S.C. 1462    12 U.S.C. 1462 et seq.    12 U.S.C. 1462a    12 U.S.C. 1463    12 U.S.C. 1464    12 U.S.C. 1818    12 U.S.C. 1828(n)    12 U.S.C. 1828 (note)    12 U.S.C. 1831n (note)    12 U.S.C. 1835    12 U.S.C. 3907    12 U.S.C. 3909    12 U.S.C. 5412(b)(2)(B)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  08/19/2016  81 FR 55381   
NPRM Comment Period End  10/18/2016 
Final Rule  11/00/2017 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: www.regulations.gov/docket?D=OCC-2016-0009   Public Comment URL: www.regulations.gov/docket?D=OCC-2016-0009  
RIN Data Printed in the FR: No 
Agency Contact:
Ron Shimabukuro
Senior Counsel
Department of the Treasury
Comptroller of the Currency
Chief Counsel's Office, 400 7th Street SW.,
Washington, DC 20219
Phone:202 649-6282
Email: ron.shimabukuro@occ.treas.gov

Allison Hester-Haddad
Special Counsel
Department of the Treasury
Comptroller of the Currency
Chief Counsel's Office, 400 7th Street SW.,
Washington, DC 20219
Phone:202 649-7810
Email: allison.hester-haddad@occ.treas.gov