CFTC announced that it is extending, until November 18, 2019, the comment period for the proposal for an alternative compliance framework for derivatives clearing organizations (DCOs) that are organized outside of U.S. and that do not pose substantial risk to the U.S. financial system. Under the proposal, these DCOs would be able to register with CFTC, yet comply with the core principles applicable to DCOs in the Commodity Exchange Act through compliance with their home country regulatory regime, subject to certain conditions and limitations. The original comment period for the proposed rule was slated to expire on September 17, 2019.
CFTC also announced that it is extending, until November 22, 2019, the comment period for the proposed rule to permit exempt DCOs to clear swaps for U.S. customers under certain circumstances. The proposal would also allow persons located outside the United States to accept funds from U.S. persons to margin swaps cleared at an exempt DCO, without registering as futures commission merchants. The original comment period for the proposed rule was to expire on September 23, 2019.
Comment Due Date: November 18, 2019/November 22, 2019
Keywords: Americas, US, Banking, Securities, Derivatives Clearing Organizations, DCO Core Principles, Non-US Clearing Organizations, Swaps, Commodity Exchange Act, Derivatives, CFTC
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EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.
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