Tag Archives: derivatives

ABA Urges CFTC to Amend Swaps Information Collection Rule

In response to the Commodity Futures Trading Commission’s notice of intent to extend information collection on certain swap transactions, ABA urged the commission to amend the pertinent regulation. At issue is an annual reporting requirement for banks engaging in swap transactions that qualify for an exemption to the CFTC’s swaps clearing requirement. The duration of these swaps is typically five ...

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Agencies Finalize Rule Harmonizing Swap Margin, QFC Requirements

To facilitate compliance with their rules regarding qualified financial contracts of systemically important banks, the federal banking agencies today finalized a rule clarifying that legacy swaps -- those entered into before the margin rules’ compliance dates -- do not become subject to margin requirements provided they are amended solely to comply with QFC rules.

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OCC: Trading Revenue Falls in Second Quarter

Commercial banks reported total trading revenue of $6.9 billion in the second quarter of 2018, down 16.2 percent from the first quarter of 2018, according to the OCC’s Quarterly Report on Bank Trading and Derivatives Activities today.

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ABA Urges CFTC to Adopt Risk-Based Measure for Swap Regulations

ABA today welcomed the Commodity Futures Trading Commission’s proposal to set the swap dealer de minimis threshold at $8 billion on a permanent basis while noting that it could be set even higher or, preferably, replaced with a risk-based threshold instead of a fixed aggregate gross notional amount of swaps.

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Fed Gov. Quarles: Efforts to Implement SOFR Ahead of Schedule

In just three months since the secured overnight financing rate was published, the number of transactions underlying SOFR on a daily basis has already surpassed the amount of those underlying Libor, Federal Reserve Vice Chairman for Supervision Randal Quarles said during taped remarks at a public roundtable hosted by the Alternative Reference Rates Committee today.

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OCC: Trading Revenue Rebounds in First Quarter

Commercial banks reported total trading revenue of $8.2 billion in the first quarter of 2018, up 62.8 percent from the fourth quarter of 2017 and 15 percent from the year before, according to the OCC’s Quarterly Report on Bank Trading and Derivatives Activities today.

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