12 CFR § 709.12 - Treatment of swap agreements in liquidation or conservatorship.

---
identifier: "/us/cfr/t12/s709.12"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 709.12 - Treatment of swap agreements in liquidation or conservatorship."
title_number: 12
title_name: "Banks and Banking"
section_number: "709.12"
section_name: "Treatment of swap agreements in liquidation or conservatorship."
chapter_name: "NATIONAL CREDIT UNION ADMINISTRATION"
subchapter_number: "A"
subchapter_name: "REGULATIONS AFFECTING CREDIT UNIONS"
part_number: "709"
part_name: "INVOLUNTARY LIQUIDATION OF FEDERAL CREDIT UNIONS AND ADJUDICATION OF CREDITOR CLAIMS INVOLVING FEDERALLY INSURED CREDIT UNIONS IN LIQUIDATION"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1757, 1766, 1767, 1786(h), 1786(t), and 1787(b)(4), 1788, 1789, 1789a."
regulatory_source: "56 FR 56925, Nov. 7, 1991, unless otherwise noted."
cfr_part: "709"
---


# 709.12 Treatment of swap agreements in liquidation or conservatorship.

The Board has determined that a swap agreement, as defined in the Federal Deposit Insurance Act at 12 U.S.C. 1821(e)(8)(D)(vi), is a qualified financial contract for purposes of the special treatment for qualified financial contracts provided in 12 U.S.C. 1787(c). Any master agreement for any swap agreement, together with all supplements to such master agreement, will be treated as one swap agreement.

[68 FR 32356, May 30, 2003. Redesignated at 82 FR 50294, Oct. 30, 2017]