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

    EC Rule on Contractual Recognition of Write Down and Conversion Powers

    The European Commission (EC) published the Delegated Regulation 2021/1527 with regard to the regulatory technical standards for the contractual recognition of write down and conversion powers.

    September 17, 2021 WebPage Regulatory News
    News

    APRA Issues Further Guidance on Application of Securitization Standard

    The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to provide guidance to authorized deposit-taking institutions on the interpretation of APS 120, the prudential standard on securitization.

    September 16, 2021 WebPage Regulatory News
    News

    SRB Provides Update on Approach to Prior Permissions Regime

    The Single Resolution Board (SRB) published a Communication on the application of regulatory technical standard provisions on prior permission for reducing eligible liabilities instruments as of January 01, 2022.

    September 16, 2021 WebPage Regulatory News
    News

    APRA Publishes FAQs on Capital Treatment of Overseas Subsidiaries

    The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to clarify the regulatory capital treatment of investments in the overseas deposit-taking and insurance subsidiaries.

    September 15, 2021 WebPage Regulatory News
    News

    EBA Finalizes Guidance to Assess Breaches of Large Exposure Limits

    The European Banking Authority (EBA) published the final report on the guidelines specifying the criteria to assess the exceptional cases when institutions exceed the large exposure limits and the time and measures needed for institutions to return to compliance.

    September 15, 2021 WebPage Regulatory News
    News

    PRA Finalizes Changes to Consolidated Prudential Rules Under CRD5/CRR2

    The Prudential Regulation Authority (PRA) issued the policy statement PS20/21, which contains final rules for the application of existing consolidated prudential requirements to financial holding companies and mixed financial holding companies.

    September 15, 2021 WebPage Regulatory News
    News

    EBA Revises Guidelines on Stress Tests of Deposit Guarantee Schemes

    The European Banking Authority (EBA) revised the guidelines on stress tests to be conducted by the national deposit guarantee schemes under the Deposit Guarantee Schemes Directive (DGSD).

    September 15, 2021 WebPage Regulatory News
    News

    Nordea Bank and EIB Sign Agreement to Fund Green Projects in Nordics

    The European Commission (EC) announced that Nordea Bank has signed a guarantee agreement with the European Investment Bank (EIB) Group to support the sustainable transformation of businesses in the Nordics.

    September 15, 2021 WebPage Regulatory News
    News

    HKMA Endorses Industry Guidance to Support LIBOR Transition

    The Hong Kong Monetary Authority (HKMA) issued a circular, for all authorized institutions, to confirm its support of an information note that sets out various options available in the loan market for replacing USD LIBOR with the Secured Overnight Financing Rate (SOFR).

    September 14, 2021 WebPage Regulatory News
    News

    OCC Issues Booklet on Supervision of Problem Banks

    The Office of the Comptroller of the Currency (OCC) issued a new "Problem Bank Supervision" booklet of the Comptroller's Handbook. The booklet covers information on timely identification and rehabilitation of problem banks and their advanced supervision, enforcement, and resolution when conditions warrant.

    September 13, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7481