The final rules also include creditor protection provisions that allow creditors to exercise certain default rights outside of an orderly resolution of an insured company and are therefore not intended to interfere with such a resolution. These safeguards basically include: a “qualified financial contract” (QFC) is defined to have the same meaning as in the Dodd-Frank Act and would include, among other things, derivatives, securities lending and credit transactions. B commodity contracts and futures contracts19. However, in accordance with the Federal Reserve`s final rules and the final rules of the OCC20, the master contract is governed by the master contract, where a management contract with a foreign GSIB authorizes transactions in one or more U.S. subsidiaries or authorities of the foreign GSIB, only the master contract is subject to such rules relating to QFCs that are reserved with a U.S. institution or a U.S. agency of the foreign GSIB (i.e. for a covered unit). against parties to the direct use of default rights on insured companies, a resolution of the Federal Deposit Insurance Act (FDIA) (which governs the settlement of deposit properties insured by the FDIC) or Title II of the Dodd-Frank Act under management by the Orderly Liquid Authority (which governs certain systemically important financial institutions) (hereafter the U.S. Special Resolution Regimes) and 12 restrictions on U.S. System-qualified financial contracts. U.S. banking organizations and operations of systemically important foreign banking organizations; revisions to the definition of the Master Netting Agreement and related definitions, 82 FR 42882 (13 November 2017), available under www.federalregister.gov/d/2017-19053 13 restrictions on qualified financial contracts of certain institutions subject to FDIC supervision; revision of the definition of the qualified “master netting” agreement and the definitions associated with it, 82 FR 50228 (30 October 2017), available under www.federalregister.gov/d/2017-21951; restrictions on eligible financial contracts of certain FDIC-monitored institutions; revisions to the definition of the Master Netting Agreement and the corresponding definition, 82 FR 61443 (28 December 2017), available under www.federalregister.gov/d/2017-27971 14 contractual conditions of residence for eligible financial contracts, 82 FR 56630 (November 29, 2017), available from www.federalregister.gov/d/2017-25529 15 commentators, U.S.
regulators had asked to clarify that a change in swaps under these rules would not have the effect of subjecting to such requirements a performance swap that was previously excluded from the fluability margin requirements.