ABA today joined four other financial trade organizations in a comment letter to the financial regulatory agencies offering feedback on a proposal establishing a new approach for calculating the exposure amount of derivative contracts under the regulatory capital rule.
With uncertainty rising around the United Kingdom’s pending withdrawal from the European Union, five federal regulatory agencies today issued an interim final rule to allow qualifying swaps to be transferred from a UK entity to an affiliate in the EU or the U.S. without triggering new requirements.
Commercial banks reported total trading revenue of $7.1 billion in the third quarter of 2018, up 2.7 percent from the second quarter, according to the OCC’s Quarterly Report on Bank Trading and Derivatives Activities released today.
The Commodity Futures Trading Commission is working to “troubleshoot” issues in transitioning CFTC-regulated derivatives contracts from the London Interbank Offered Rate to the new Secured Overnight Financing Rate, CFTC Chairman Christopher Giancarlo said today.
The Federal Reserve, FDIC and OCC today issued a proposed rule that would establish a new approach for calculating the exposure amount of derivative contracts under the regulatory capital rule.
In a letter yesterday, ABA and four financial trades called on regulators to address lingering challenges as they continue implementation of the final policy framework for margin requirements for non-centrally cleared derivatives.
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.