Commodity Futures Trading Commission
On January 6, 2016, the Commodity Futures Trading Commission ("Commission" or "CFTC") published final regulations to implement section 4s(e) of the Commodity Exchange Act, which requires the Commission to adopt initial and variation margin requirements for uncleared swaps of swap dealers and major swap participants that do not have a Prudential Regulator (collectively, "Covered Swap Entities" or "CSEs"). In this release, the Commission is adopting a rule to address the cross-border application of the Commission's margin requirements for CSEs' uncleared swaps.
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Commodity Futures Trading Commission 17 CFR Part 23 RIN 3038-AC97 AGENCY: Commodity Futures Trading Commission. ACTION: Final rule. SUMMARY: On January 6, 2016, the Commodity Futures Trading Commission (“Commission” or “CFTC”) published final regulations to implement section 4s(e) of the Commodity Exchange Act, which requires the Commission to adopt initial and variation margin requirements for uncleared swaps of swap dealers and major swap participants that do not have a Prudential Regulator (collectively, “Covered Swap Entities” or “CSEs”). In this release, the Commission is adopting a rule to address the cross-border application of the Commission's margin requirements for CSEs' uncleared swaps. DATES: The final rule is effective August 1, 2016. FOR FURTHER INFORMATION CONTACT: Laura B. Badian, Assistant General Counsel, 202-418-5969, lbadian@cftc.gov ; Paul Schlichting, Assistant General Counsel, 202-418-5884, pschlichting@cftc.gov ; or Elise (Pallais) Bruntel, Counsel, (202) 418-5577, ebruntel@cftc.gov ; Office of the General Counsel, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW., Washington, DC 20581. SUPPLEMENTARY INFORMATION: Table of Contents I. Background A. Introduction B. Key Considerations in the Cross-Border Application of the Margin Regulations II. The Final Rule A. Key Definitions 1. U.S. Person a. Proposed Rule b. Comments c. Final Rule 2. Guarantees a. Proposed Rule b. Commen…
Citation: 81 FR 34818
