# Interpretive Ruling and Policy Statement No. 03-3; Qualified Financial Contracts
> **US National Credit Union Administration** · Notice of interpretive ruling and policy statement No. 03-3. · Published 2003-10-30 · Effective 2003-10-30 · 68 FR 61735
## Document
- **Document number:** 03-27311
- **Category:** interpretive
- **Agency:** US National Credit Union Administration
- **Federal Register citation:** 68 FR 61735
- **CFR reference:** 12 CFR 709
- **Publication date:** 2003-10-30
- **Effective date:** 2003-10-30
## Abstract

Interpretive Ruling and Policy Statement (IRPS) No. 03-3 provides guidance on NCUA's treatment of qualified financial contracts (QFCs) and federal funds (fed funds) transactions if NCUA becomes liquidating agent or conservator of a credit union. The guidance covers the timing, form, authority, and maintenance of written agreements documenting QFC and fed funds transactions.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2003/10/30/03-27311/interpretive-ruling-and-policy-statement-no-03-3-qualified-financial-contracts)
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