Fed Expands Reg EE Coverage
The Federal Reserve today finalized new categories of entities under the “financial institution” status under the FDIC Improvement Act’s netting provisions, first promulgated in Regulation EE in 1994.
Browsing: Swaps
CFTC Finalizes ABA-Advocated Relief on Swap Clearing for BHCs, S&LHCs
The Commodity Futures Trading Commission today finalized a rule that exempts from clearing requirements certain swaps entered into by financial holding companies with less than $10 billion in assets.
SEC, CFTC Approve Joint Rule Aligning Margin Levels for Security Futures
The Securities and Exchange Commission and the Commodity Futures Trading Commission approved a joint final rule today to harmonize their margin levels for security futures “whether they are held in a futures account, a securities portfolio margin account, or a securities account that is not approved for portfolio margining.”
ABA, Groups Applaud Agencies’ Recent Swap Regulation Actions
ABA joined a coalition of financial trade groups last week welcoming action by financial regulators to provide regulatory relief to swaps market participants during the pandemic.
CFTC Finalizes Rule on Cross-Border Swap Requirements
By a three-to-two vote, the Commodity Futures Trading Commission yesterday approved a final rule on the cross-border application of registration thresholds and other requirements to swap dealers and major swap participants
Agencies Finalize Rule to Amend Initial Margin Requirements for Inter-Affiliate Swaps
Five federal financial regulatory agencies today finalized a rule that removes the requirement for covered swap entities to collect initial margin from affiliates—an American Bankers Association-supported change that fosters systemic risk mitigation and allows swap entities to better manage liquidity.
BAFT, ITFA to Develop Fallback Language for Master Participation Agreements
As financial institutions around the globe continue preparing to transition financial contracts away from the London Interbank Offered Rate, which is not guaranteed to be sustained after 2021, BAFT—ABA’s global transaction banking subsidiary—and the International Trade and Forfaiting Association noted that the transition could have implications for master participation agreements.
ABA Opposes Prohibition of ‘Post-Trade Name Give-Ups’ for Anonymous Swaps
In a comment letter to the Commodity Futures Trading Commission today, ABA urged the agency not to move forward with a proposal that would prohibit “post-trade name give-up” practices for swaps that are anonymously executed on a swaps execution facility and are intended to be cleared.
CFTC Proposes New, Amended Position Limits for Derivatives
The Commodity Futures Trading Commission yesterday proposed new and amended regulations regarding speculative position limits.
FSB: Banks Need to Move Now on Post-Libor Plans
Financial firms that have not started their work to transition from the London Interbank Offered Rate and making fallback plans for contracts—especially loans—that currently reference it need to begin right away, the Basel, Switzerland-based Financial Stability Board said in a progress report today on the reference rate transition.