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Home Newsbytes

CFTC Financial Reporting Requirements Delayed for Bank Swap Dealers

September 1, 2021
Reading Time: 1 min read

The Commodity Futures Trading Commission yesterday temporarily delayed some financial reporting requirements for bank swap dealers. The deadline to comply with CFTS’s new capital and financial reporting requirements was Oct. 23, but has now been extended to Oct. 6, 2023.

As part of the delay, the CFTC said that bank swap dealers may report using alternative forms, filing deadlines and reporting standards that are otherwise applicable to them by their prudential or home country regulators. For U.S. bank swap dealers, this means that they may report by filing their quarterly Call Report with schedules as prescribed by the Federal Financial Institutions Examination Council.

The CFTC said it determined that providing the conditional relief would not adversely affect its ability to monitor the capital position of bank swap dealers.

Tags: ReportingSwaps
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