Given the complexity and size of a daily qualified financial contracts (QFC) book and the depth of the Federal Deposit Insurance Corporation’s (FDIC) requirements, reporting entities (REs) may struggle to be prepared on time, and may recognize the need to better automate their existing approach.
FDIC requires that REs maintain four master tables that cleanly identify all participants in the QFC and produce four reports:
Collateral information supporting counterparty details
Counterparty level aggregated exposure
Information on QFC-related legal agreements
The above factors are forcing FIs to reevaluate their approach to meeting liquidity-reporting challenges.
AxiomSL’s collaborative QFC solution platform’s robustness, adaptability, transparency and state-of-the-art data-lineage module enables REs to meet the QFC rule requirements for recordkeeping and reporting accurately and speedily.