Tag Archives: derivatives

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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ABA Weighs in on Harmonization of Swap Margin, QFC Rules

ABA today commented on a joint proposed rulemaking issued by the OCC, Federal Reserve and FDIC, Farm Credit Administration and the Federal Housing Finance Administration that would align the agencies’ margin rules with restrictions on qualified financial contracts that took effect last year.

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ABA Calls for Flexibility from FASB as Libor Transition Commences

With the New York Federal Reserve beginning to publish the Secured Overnight Financing Rate -- or SOFR -- next week, the American Bankers Association today wrote to the Financial Accounting Standards Board in support of including the overnight index swap rate based on SOFR as a benchmark interest rate for hedge accounting purposes, as an alternative to U.S. dollar Libor.

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