ARRC Issues Recommendations on Risk-Free Rates in Cross-Currency Swaps
The Alternative Reference Rates Committee today released a document offering preliminary considerations for the use of risk-free rates in interdealer cross-currency swaps.
Browsing: Swaps
CFTC Provides Relief to Certain Legacy Swap Amendments
The Commodity Futures Trading Commission yesterday issued a no-action letter to allow certain amendments to legacy swaps—those that were executed prior to the compliance date for the CFTC’s uncleared swap margin rule—without losing their status as legacy swaps.
ABA, Financial Trade Groups Call for Changes to Margin Rules
The American Bankers Association joined several financial trade organizations in a letter to the prudential regulators earlier this week calling on them to modify the margin rules for non-cleared swaps and security-based swaps to better align them with international standards.
SEC Proposes Changes to Derivatives Regulatory Framework
The Securities and Exchange Commission last week issued a proposal and interpretive guidance aimed at improving its framework for regulating cross-border security-based swaps transactions and market participants.
Fed Seeks Comment on Reg EE Coverage Expansion
As part of its efforts to monitor and maintain financial stability, the Federal Reserve is proposing to include new categories of entities under “financial institution” status under the FDIC Improvement Act’s netting provisions, first promulgated in Regulation EE in 1994.
CFTC Approves Rule Providing Relief for Swaps Dealers
The Commodity Futures Trading Commission voted today to expand the de minimis exception to the swap dealer definition for swaps entered into by insured depository institutions in connection with originating loans for their customers.
Agencies Facilitate Transfers of Legacy Swaps Under ‘Hard Brexit’
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.
CFTC to Move Ahead with Cross-Border Proposal
Commodity Futures Trading Commission Chairman Chris Giancarlo signaled today that the CFTC will soon advance a new cross-border derivatives proposal once the government shutdown ends.
CFTC’s Giancarlo Warns on ‘Zombie Libor,’ Emphasizes Need for Benchmark Transition
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.
CFTC Permanently Sets Swap Dealer De Minimis Threshold at $8B
The Commodity Futures Trading Commission voted today to maintain the swap dealer de minimis threshold at $8 billion on a permanent basis.