On September 15, 2008, Lehman Brothers declared bankruptcy, an event considered by many to mark the beginning of the credit crisis of 2008–2009 and the unprecedented public policy responses that followed. Much has been written about the multiple contributing factors to the crisis, ranging from predatory lending to Federal Reserve interest rate policy.
USA, Banking, Capital Markets, Company & Commercial, Derivatives, Insolvency & Restructuring, IT & Data Protection, K&L Gates LLP, Fintech, Troubled Asset Relief Program, US Securities and Exchange Commission, Commodity Futures Trading Commission (USA), Federal Reserve (USA), Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA), Emergency Economic Stabilization Act 2008 (USA)
Companies that the Financial Stability Oversight Council (FSOC) believes may be subject to FDIC receivership under the Orderly Liquidation Authority contained in Title II of the Dodd-Frank Act, and certain of their affiliates, are now subject to recordkeeping requirements related to their “qualified financial contracts”1 (QFCs).
USA, Banking, Capital Markets, Insolvency & Restructuring, Dechert LLP, Depository institution, Federal Deposit Insurance Corporation (USA), Financial Stability Oversight Council, Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA)