The Federal Reserve today proposed a rule that would establish restrictions on qualified financial contracts — such as derivative transactions, repurchase agreements, reverse repurchase agreements, and securities lending and borrowing agreements — of U.S. global systemically important banks and the U.S. operations of foreign G-SIBs.
The Securities and Exchange Commission yesterday adopted by 2-1 vote final rules regarding the external business conduct standards applicable to security-based swap dealers and major security-based swap participants.
At the request of ABA’s Center for Bank Derivatives Policy, the Commodity Futures Trading Commission on Friday released a no-action letter to ensure that bank and savings and loan holding companies can enter into swaps and benefit from the same end-user treatment as the small banks and thrifts they own.
The Commodity Futures Trading Commission today approved a final rule requiring swap dealers and major swap participants to exchange initial margin and variation margin with counterparties to swaps not cleared through a central counterparty.
New regulations finalized in 2015 will cost the financial services industry $9.4 billion and consume 14 million hours of paperwork, according to a new analysis by the American Action Forum.
The Commodity Futures Trading Commission today released a preliminary report on the “de minimis” exception for swap dealers to register with the CFTC. The current rule requires a bank to register with CFTC as a swap dealer if it deals in more than $8 billion in notional swaps per year.
The FDIC, OCC and Farm Credit Administration today approved a final rule that requires prudentially-regulated swap dealers and participants to put up capital and exchange initial margin and variation margin from counterparties to swaps not cleared through a central counterparty.
The Commodity Futures Trading Commission today issued a proposal on when margin requirements would apply to uncleared swap transactions in a cross-border context.
ABA this week launched its new Center for Bank Derivatives Policy, which brings together resources for banks focused on the derivatives market.
The full House yesterday passed a spending bill that includes a provision granting an exemption from derivatives clearing requirements for small bank holding companies.