, ▁or ▁rep udi ate ▁the ▁Q FC ▁and ▁pay ▁out ▁the ▁counter party . ▁ ▁In ▁January ▁ 2 0 1 5 , ▁the ▁US ▁Secretary ▁of ▁Tre as ury ▁issued ▁a ▁notice ▁of ▁proposed ▁rule making ▁( “ N PR ” ) ▁that ▁would ▁establish ▁new ▁record keep ing ▁requirements ▁for ▁Qual ified ▁Fin an cial ▁Cont ract s ▁( “ Q FC s ” ). ▁The ▁N PR ▁requires ▁US ▁system ically ▁important ▁financial ▁institutions ▁( “ SI F Is ” ) ▁and ▁certain ▁of ▁their ▁affili ates ▁to ▁maintain ▁specific ▁information ▁electron ically ▁on ▁end - of - day ▁Q FC ▁positions , ▁and ▁to ▁be ▁able ▁to ▁provide ▁this ▁information ▁to ▁regul ators ▁within ▁ 2 4 ▁hours ▁if ▁requested . ▁The ▁N PR ▁is ▁intended ▁to ▁help ▁the ▁F D IC ▁with ▁decision - making ▁by ▁making ▁available ▁detailed ▁information ▁on ▁a ▁failed ▁company ’ s ▁Q FC s , ▁given ▁the ▁F D IC ’ s ▁expanded ▁receiver ship ▁powers ▁under ▁D odd - Fran k ’ s ▁Order ly ▁Li qu id ation ▁Author ity ▁( “ O LA ” ). ▁ ▁Non - bank ▁entities ▁The ▁concept ▁of ▁a ▁system ically ▁important ▁financial ▁institution ▁in ▁the ▁U . S . ▁extends ▁well ▁beyond ▁traditional ▁banks ▁and ▁is ▁often ▁included ▁under ▁the ▁term ▁Non - bank ing ▁financial ▁company . ▁It ▁includes ▁large ▁h edge ▁funds ▁and ▁trad ers , ▁large ▁ins urance ▁companies , ▁and ▁various ▁and ▁su nd ry ▁system ically ▁important ▁financial