Federal Register #2026-22415

OCC Request for Comments on Qualified Financial Contract Stay Requirements

The Office of the Comptroller of the Currency is seeking public comments on renewing an information collection about contractual stay requirements for qualified financial contracts. - Government buyer: Office of the Comptroller of the Currency (OCC), within the U.S. Department of the Treasury. - What the notice concerns: Certain covered banks and related entities must include stay-and-transfer provisions in covered qualified financial contracts and limit default rights triggered by an affiliate’s insolvency. - Ways to meet the requirements: Covered banks may amend their contracts, adhere to the International Swaps and Derivatives Association (ISDA) Universal Resolution Stay Protocol or U.S. Protocol, or seek OCC approval for alternative provisions. - Estimated respondent burden: 51 respondents, 140 hours per respondent, and 7,140 total annual burden hours. - Comments sought: Feedback on whether the collection is necessary, the accuracy of the burden estimate, the clarity of the information, and ways to reduce respondent burden. - Procurement status: This is a public comment notice, not a request to purchase products or services. No products, part numbers, quantities, OEMs, or vendors are specified.

Description

The Office of the Comptroller of the Currency invites comments on renewal of its information collection titled “Mandatory Contractual Stay Requirements for Qualified Financial Contracts.” The collection concerns requirements for covered banks to ensure certain qualified financial contracts include contractual stay-and-transfer provisions and limit default rights based on an affiliate’s insolvency. Covered banks may meet the requirements by amending contract terms, adhering to specified ISDA protocols, or requesting OCC approval of alternative provisions. Comments are due January 4, 2027.

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