{"claim_when_off_current_list":"This issuer is off the current list, so the next evergreen/renewal cannot support surplus credit.","clocks":{"lloyds_six_month_confirm":{"apply":"POST /v1/qusfi/check with lloyds_fal=yes and issuing_bank_confirm_at=YYYY-MM-DD","bulletin":"Y5410","dated":"2023-10-03","lodging":"LOCs supporting an Economic Capital Assessment must be lodged in accordance with the May/November FAL timetable.","months":6,"not_a_claim":"Y5410 is a Lloyd's FAL discount right. It is not NAIC Model 785 surplus credit and it does not by itself kill a grandfathered US credit-for-reinsurance letter.","rule":"Lloyd's require all issuing banks to confirm the validity of each LOC issued on behalf of members on a six-monthly basis. If this confirmation is not provided, Lloyd's reserves the right to discount the value of the LOC as part of a member's FAL until the bank confirms. (Y5410, 3 Oct 2023.)","scope":"Member Funds at Lloyd's / ECA Tier 2 letters of credit, bank guarantees and life policies. Not NAIC Model 785 surplus credit.","source":"https://assets.lloyds.com/media/37cc57c7-df41-4058-a085-628c4b0ad478/Y5410.pdf","spec":"lloyds-y5410-v1"},"next_786_event":"Grandfather ends at expiry, extension, renewal, modification, or amendment — whichever first occurs.","next_svo_list":"QUSFI membership is the dated PDF. A later list replaces the set; it does not by itself kill paper grandfathered under Model 786 §11A(3).","publication":{"cadence":"monthly","faq":"https://content.naic.org/sites/default/files/svo-qusfi-faq.pdf","live_url":"https://staspoprodcus01.blob.core.windows.net/svo/svo_qusfi_list.pdf","note":"SVO updates the list in real time internally and publishes the PDF monthly (QUSFI FAQ). Gate vendors the dated PDF hash. python3 gate/watch_qusfi.py hashes the live PDF and fails if it moved.","watch":"/watch/qusfi.py"}},"confirmation":{"advised_mt760_via_own_bank":"required_channel_for_any_clear","call_to_confirm_path":false,"phone_or_email_on_instrument":"HALT"},"current":{"as_of":"2026-09-30","institution_count":139,"pdf_sha256":"0b1f3503d12ae8899cb7966515cf5f33277781051d075104fa1cbfd48dd75d8d","source_url":"https://staspoprodcus01.blob.core.windows.net/svo/svo_qusfi_list.pdf","title":"September 30, 2026"},"grandfather":"Letters of credit meeting applicable standards of issuer acceptability as of the dates of their issuance (or confirmation) shall, notwithstanding the issuing (or confirming) institution's subsequent failure to meet applicable standards of issuer acceptability, continue to be acceptable as security until their expiration, extension, renewal, modification or amendment, whichever first occurs. (NAIC Model 786 §11A(3).)","not_a_claim":"Existing letters issued while the issuer was qualified are not automatically dead.","prior":{"as_of":"2025-12-31","institution_count":142,"pdf_sha256":"d989ac5a588a69339ce8a8fb646b9a8b443b82535e8f341656d45bbdd12c6c69","source_url":"https://content.naic.org/sites/default/files/svo-archive-2025-qualified-us-financial-institutions-qufsi.pdf","title":"December 31, 2025"},"purpose":"Credit for reinsurance letters of credit. Not a bank score.","scope":"NAIC Credit for Reinsurance Model Law (#785) section 3C(1) and section 4A — issuers of letters of credit as collateral in reinsurance arrangements. Not a general bank creditworthiness score. The SVO list footer forbids other uses.","sources":{"airroc_spoofed_phone":"https://www.airrocupdate.org/letters-of-credit-the-good-the-bad-and-the-vesttoo","artemis_corinthian_voice_email":"https://www.artemis.bm/news/vesttoo-collateral-loc-issues-werent-spotted-by-multiple-parties-involved/","lloyds_y5410":"https://assets.lloyds.com/media/37cc57c7-df41-4058-a085-628c4b0ad478/Y5410.pdf","model_785":"https://content.naic.org/sites/default/files/model-law-785.pdf","model_786":"https://content.naic.org/sites/default/files/model-law-786.pdf"},"spec":"gate-qusfi-v1","urls":{"check":"https://gate.velaru.xyz/v1/qusfi/check","diff":"https://gate.velaru.xyz/v1/qusfi/diff","head":"https://gate.velaru.xyz/.well-known/qusfi.json","lookup":"https://gate.velaru.xyz/v1/qusfi","watch":"https://gate.velaru.xyz/watch/qusfi.py"}}