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CFTC | RIN: 3038-AE20 | Publication ID: Spring 2015 |
Title: Clearing Requirement | |
Abstract:
The Commodity Futures Trading Commission (Commission) would propose to amend regulation 50.4 to establish a new swap clearing requirement under section 2(h)(1)(A) of the Commodity Exchange Act (CEA), which was enacted under title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The proposal would require certain swaps to be cleared either by a Commission-registered derivatives clearing organization (DCO) or a DCO that is exempt from registration under the CEA. The Commission believes that this clearing requirement would be warranted pursuant to the five factors described in section 2(h)(2)(D) of the CEA and that the benefits of such a clearing requirement would include reducing counterparty credit risk and systemic risk. |
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Agency: Commodity Futures Trading Commission(CFTC) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: Yes | Unfunded Mandates: No |
CFR Citation: 17 CFR 50 | |
Legal Authority: 7 U.S.C. 2(h), 7 U.S.C. 7(a)(1) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: John C. Lawton Deputy Director, Division of Clearing and Risk Commodity Futures Trading Commission Three Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581 Phone:202 418-5480 Email: jlawton@cftc.gov |