Qualified financial contract. “Qualified financial contract” means any securities contract, commodity contract, forward contract, repurchase agreement, swap agreement, and any similar agreement that the FDIC determines by regulation, resolution, or order to be a qualified financial contract for purposes of identifying those contracts that are entitled to certain protections in a bank receivership context. The OLA regime imposes a five-business-day stay (since receivership) for parties to QFCs.

Featured definitions