Featured Product

    CFTC Proposes Rules on Derivative Position Limits and Swap Execution

    February 27, 2020

    CFTC approved a proposed rule on position limits for derivatives and a proposed rule amending requirements for certain Swap Execution Facilities and real-time reporting. Comments on the proposed rule on position limits for derivatives must be received before April 29, 2020. The proposed rule that amends the requirements for certain Swap Execution Facilities and real-time reporting has a comment period until April 20, 2020. CFTC also published a fact sheet on the proposed rule on position limits for derivatives.

    Proposed rule on Position Limits for Derivatives. CFTC is proposing amendments to regulations concerning speculative position limits to conform to the Dodd-Frank Act amendments to the Commodity Exchange Act. Among other amendments, CFTC proposed:

    • New and amended federal spot month limits for 25 physical commodity derivatives
    • New and amended definitions for use throughout the position limits regulations, including a revised definition of “bona fide hedging transactions or positions” and a new definition of “economically equivalent swaps”
    • Amended rules governing exchange-set limit levels and grants of exemptions therefrom
    • A new streamlined process for bona fide hedging recognitions for purposes of federal limits
    • New enumerated hedges
    • Amendments to certain regulatory provisions that would eliminate Form 204, enabling CFTC to leverage cash-market reporting submitted directly to the exchanges

    Proposed Rule on Amendments to Swap Execution Facility Requirements and Real-Time Reporting Requirements. CFTC proposed to amend certain parts of its regulations related to the execution of package transactions on swap execution facilities; the execution of block trades on swap execution facilities; and the resolution of error trades on swap execution facilities. These matters are currently the subject of relief in certain no-action letters from the CFTC staff.

     

    Related Links

    Comment Due Date: April 29, 2020/April 20, 2020

    Keywords: Americas, US, Banking, Securities, Position Limits, Swap Execution Facility, Reporting, Hedging, Dodd-Frank Act, Derivatives, Swaps, CFTC

    Featured Experts
    Related Articles
    News

    OSFI Consults on Revisions to BCAR and Leverage Requirements Returns

    OSFI proposed revisions to the Basel Capital Adequacy Reporting (BCAR) and leverage requirements returns for the 2023 reporting, with the comment period ending on July 09, 2021.

    May 04, 2021 WebPage Regulatory News
    News

    EBA Seeks Views on Revisions to Nonperforming Loan Data Templates

    EBA published a discussion paper on review of the standardized nonperforming loans (NPL) transaction data templates, along with the proposed revised NPL data templates.

    May 04, 2021 WebPage Regulatory News
    News

    Bundesbank Updates Requirements Documentation for AnaCredit Reporting

    Bundesbank updated AnaCredit reporting requirements for banks, with reference to the Notice 8001/2020.

    May 03, 2021 WebPage Regulatory News
    News

    CBUAE Issues Regulation for Low-Risk Specialized Banks

    CBUAE has issued a regulation that introduces the licensing and supervision framework for low-risk, specialized banks.

    May 01, 2021 WebPage Regulatory News
    News

    APRA Proposes Guidance to Support Prudential Standard on Remuneration

    APRA is consulting on CPG 511—the draft Prudential Practice Guide on remuneration for banks, insurers, and superannuation licensees—with the comment period ending on July 23, 2021.

    April 30, 2021 WebPage Regulatory News
    News

    MAS Announces Grant Scheme to Spur Adoption of Regtech Solutions

    MAS announced a new RegTech grant scheme and an enhancement of the Digital Acceleration Grant (DAG) scheme to accelerate technology adoption in the financial sector.

    April 30, 2021 WebPage Regulatory News
    News

    PRA Review Finds Most Banks Compliant with Regulatory Reporting Rules

    PRA published a letter that sets out findings from the 2020 Internal Audit Review of the Collections function of a sample of non-systemic banks and building societies.

    April 30, 2021 WebPage Regulatory News
    News

    EIOPA Launches Consultation on Interbank Offered Rate Transitions

    EIOPA launched a consultation on the Interbank Offered Rate (IBOR) transitions, in context of the EU Benchmarks Regulation.

    April 30, 2021 WebPage Regulatory News
    News

    IFRS Issues Proposals Related to New Sustainability Standards Board

    The Trustees of the IFRS Foundation proposed amendments to the Constitution of the IFRS Foundation to accommodate the potential formation of the new International Sustainability Standards Board within the governance structure of the organization.

    April 30, 2021 WebPage Regulatory News
    News

    BCB Amends Rules on Open Banking and Proposes ESG Disclosure Rules

    BCB amended the resolution that establishes technical requirements and operational procedures for the implementation of open banking in Brazil, with the amended resolution entering into force on its publication date.

    April 30, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6925