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Each depositor insured to at least $250,000 per insured bank

Recordkeeping Requirements for Qualified Financial Contracts (QFCs) - Technical Points

Technical Points Questions

  1. Where do I get answers for questions not provided below that are related to data requirements under Part 371?
  2. How do I send the data files to the FDIC?
  3. I forgot my password. How do I retrieve it?
  4. What is the file format?
  5. What is the file naming structure?
  6. Should there be a header row in the data files?
  7. Should there be an end-of-file indicator at the bottom of each file?
  8. What values should be used for fields that are not applicable for a given class of QFCs or product type?
  9. Is YYYY/MM/DD a valid date format?
  10. For the top-level entity, what should be in the Immediate Parent Entity Identifier?
  11. I have inter-affiliate trades. My counterparty on the trade is in the CO table (Corporate Organization Master). Should it also be in the CP table (Counterparty Master)?
  12. What can I enter in the field A1.7 – Type of QFC? Is it Interest Rate Swaps or IRS or Int Rt Swp?
  13. I am short a position. Do I report A1.19 (for Full Scope entities and A1.18 for Limited Scope entities) – Notional or principal amount of the position in local currency and A1.20 – Notional or principal amount of the position in U.S. dollars, as negative?
  14. How do I use the field A1.22 – Related position of records entity?

1. Where do I get answers for questions not provided below that are related to data requirements under Part 371?

Please email Part371QFC@fdic.gov

Last updated: Dec. 12, 2017


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2. How do I send the data files to the FDIC?

FDIC uses GlobalScape Secure File Transfer to transfer files. You will provide the FDIC with a Point Of Contact for the file transfer process. The POC will receive an email with a User ID for the file transfer session. The password for the session will be provided over the phone – for security reasons this password cannot be emailed. The session stays open for 7 days. You will upload the data files and email FDIC once the files are available for download. FDIC will email back once the files have been downloaded. Once downloaded, the files are deleted from the portal.

Last updated: Dec. 12, 2017


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3. I forgot my password. How do I retrieve it?

We cannot retrieve passwords. We have to create a new file transfer session.

Last updated: Dec. 12, 2017


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4. What is the file format?

The files should be flat file with columns separated by “~” (tilde-delimited flat file)

Last updated: Dec. 12, 2017


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5. What is the file naming structure?

For Part 371 (Full Scope entities)

If the Part 371 entity (XYZ Bank) is part of a Part 148 family (HoldCo):


If the Full Scope Part 371 entity (XYZ Bank) is not a part of a Part 148 family -


For Part 371 (Limited Scope entities)

Last updated: Dec. 12, 2017


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6. Should there be a header row in the data files?

Yes. The field names should be used for the first row (or the header row). For example for A1 file, the first row should be as follows –
A1.1~A1.2~A1.3~A1.4~ … and so on

Last updated: Dec. 12, 2017


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7. Should there be an end-of-file indicator at the bottom of each file?

No. The last row should be the last data row.

Last updated: Dec. 12, 2017


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8. What values should be used for fields that are not applicable for a given class of QFCs or product type?

All fields should have value. All “null” or empty fields are flagged as error. Please use the following values for fields that are not applicable –
Text fields or AlphaNum fields – NA
Numeric – 0
Date – 2099-12-31

Last updated: Dec. 12, 2017


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9. Is YYYY/MM/DD a valid date format?

No. YYYY-MM-DD is the only acceptable date format.

Last updated: Dec. 12, 2017


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10. For the top-level entity, what should be in the Immediate Parent Entity Identifier?

These fields are used for establishing affiliate relations. Please use “NA” if the entity is the top level entity.

Last updated: Dec. 12, 2017


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11. I have inter-affiliate trades. My counterparty on the trade is in the CO table (Corporate Organization Master). Should it also be in the CP table (Counterparty Master)?

Yes. All counterparties – third parties and affiliates - should be in the CP table

Last updated: Dec. 12, 2017


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12. What can I enter in the field A1.7 – Type of QFC? Is it Interest Rate Swaps or IRS or Int Rt Swp?

A1.7 is a free form field. Interest Rate Swaps, IRS and Int Rt Swp are all valid values. However, you will have to pick one and use it consistently across all submissions. Also, if your product type is unique or the value is difficult to understand, you will be asked to provide a data dictionary with QFC Type definitions. 

Last updated: Dec. 12, 2017


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13. I am short a position. Do I report A1.19 (for Full Scope entities and A1.18 for Limited Scope entities) – Notional or principal amount of the position in local currency and A1.20 – Notional or principal amount of the position in U.S. dollars, as negative?

No, notional amount should always be reported as positive

Last updated: Dec. 12, 2017


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14. How do I use the field A1.22 – Related position of records entity?

Let’s say you have five QFCs that are somehow tied together for some business reason or risk management reason, etc. You would tag these QFCs with the same value in the field A1.22. The actual value itself is not important – you could start with a sequential counter - grouping from 1, the next group of related QFCs would be tagged “2” in field A1.22, and so on.

Last updated: Dec. 12, 2017


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