Featured Product

    CFTC Amends De Minimis Exception Under the Swap Dealer Definition

    April 01, 2019

    CFTC is amending the de minimis exception within the swap dealer definition in its regulations by establishing as a factor in the de minimis threshold determination whether a given swap has specified characteristics of swaps entered into by insured depository institutions in connection with originating loans to customers. The effective date for this rule is April 01, 2019

    CFTC had, in June 2018, issued a proposed rule to amend the de minimis exception while it had adopted the USD 8 billion de minimis threshold in November 2018. The current release does not include discussion about these other aspects of the proposed rule as they were addressed in the adopting release for the USD 8 billion threshold. In this adopting release, CFTC is amending the de minimis exception by establishing as a factor in the aggregate gross notional amount threshold determination whether a given swap has specified characteristics of swaps entered into by insured depository institutions in connection with originating loans to customers. CFTC may in the future separately propose or adopt rules addressing any aspect of the proposed rule that is not finalized in this release, or that has not already been finalized. The amendment being adopted in this release:

    • Supports a clearer and more streamlined application of the de minimis exception
    • Provides greater clarity on which swaps need to be counted toward the aggregate gross notional amount threshold
    • Accounts for practical considerations relevant to swaps in different circumstances

     

    Related Link: Federal Register Notice

    Effective Date: April 01, 2019

    Keywords: Americas, US, Banking, Securities, De Minimis Exception, Aggregate Gross Notional Amount Threshold, Swap Dealer, Insured Depository Institutions, Swaps, CFTC

    Related Articles
    News

    EBA Provides Clarity on Implementation of Certain COVID-19 Policies

    EBA published a report on the implementation of selected COVID-19 policies within the prudential framework for banking sector.

    July 07, 2020 WebPage Regulatory News
    News

    BCBS Report Examines Progress on Adoption of Basel III Framework

    BCBS published the eighteenth progress report on implementation of the Basel III regulatory framework in member jurisdictions.

    July 06, 2020 WebPage Regulatory News
    News

    BCBS Amends Guidelines on Sound Management of AML/CFT Risks

    BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).

    July 02, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Amendments to Swap Margin Rule

    US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.

    July 01, 2020 WebPage Regulatory News
    News

    PRA Letter Sets Expectations on Approach to Managing Climate Risks

    PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.

    July 01, 2020 WebPage Regulatory News
    News

    EBA Guidelines on Treatment of Structural Foreign Exchange Under CRR

    EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).

    July 01, 2020 WebPage Regulatory News
    News

    FSB Issues Statement on Impact of COVID-19 Crisis on Benchmark Reform

    FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.

    July 01, 2020 WebPage Regulatory News
    News

    IAIS Publishes List of Internationally Active Insurance Groups

    IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.

    July 01, 2020 WebPage Regulatory News
    News

    FED Temporarily Revises FR Y-9C With Respect to PPPLF and CARES Act

    FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).

    July 01, 2020 WebPage Regulatory News
    News

    EC Launches Consultation on Review of Solvency II Directive

    EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.

    July 01, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5433