The House yesterday voted 239-182 to pass the Commodity End-User Relief Act that would reauthorize the Commodity Futures Trading Commission.
The Commodity Futures Trading Commission today issued an order delaying the termination date of the phase-in period of the swap dealer de minimis threshold until Dec. 31, 2018.
The OCC 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 national banks and federal thrifts that are subsidiaries of U.S. and foreign-based global systemically important banks.
The federal banking agencies are issuing a final rule affirming that swaps and security-based swaps that are not cleared through a central counterparty and are entered into for hedging purposes by banks with less than $10 billion in assets and commercial end users are not subject to requirements to exchange initial margin and variation margin with prudentially-regulated swap dealers and major swap participants.
ABA and the ABA Securities Association today wrote to U.S. regulators urging them to re-align their timeline for implementing the uncleared swaps margin rules with the European Union.
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.