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CFTC RIN: 3038-AF18 Publication ID: Fall 2022 
Title: Clearing Requirement Determination Under Section 2(h) of the Commodity Exchange Act for Interest Rate Swaps to Account for the Transition from LIBOR and Other IBORs to Alternative Reference Rates 
Abstract:

The Commodity Futures Trading Commission ("Commission") has amended its interest rate swap clearing requirement in part 50 of the Commission’s regulations to address the cessation of certain interbank offered rates (e.g., the London Interbank Offered Rate) used as benchmark reference rates and the market adoption of alternative reference rates; namely, overnight, nearly risk-free reference rates.

 
Agency: Commodity Futures Trading Commission(CFTC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 17 CFR 50   
Legal Authority: 7 U.S.C. 2(h)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Request for Information and Comment  11/23/2021  86 FR 66476   
Request for Information and Comment Period End  01/24/2022 
NPRM  05/31/2022  87 FR 32898   
NPRM Comment Period End  06/30/2022 
Final Rule  08/24/2022  87 FR 52182   
Final Rule Effective  09/23/2022 
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:
Sarah E. Josephson
Deputy Director, International and Domestic Clearing Initiatives, Division of Clearing and Risk
Commodity Futures Trading Commission
Three Lafayette Centre, 1155 21st Street NW,
Washington, DC 20581
Phone:202 418-5684
Email: sjosephson@cftc.gov

Daniel O'Connell
Special Counsel, Division of Clearing and Risk
Commodity Futures Trading Commission
Three Lafayette Centre, 1155 21st Street NW,
Washington, DC 20581
Phone:202 418-5583
Email: doconnell@cftc.gov