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CFTC | RIN: 3038-AF30 | Publication ID: Fall 2022 |
Title: Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants | |
Abstract:
This agenda item is being withdrawn as no action is planned for this agenda item in the upcoming year. The agenda item pertained to proposed amendments that would have revised the definition of margin affiliate to provide that certain collective investment vehicles that receive a portion or all of their initial equity investment from a sponsoring entity would be deemed not to have any margin affiliates for the purposes of calculating certain thresholds that trigger the requirements to exchange initial margin, effectively relieving swap dealers and major swap participants from posting and collecting initial margin with certain eligible seeded funds for a limited, three year period. The amendments would also have included a proposal to eliminate a provision disqualifying the securities issued by certain pooled investment funds that transfer their assets through securities lending, securities borrowing, repurchase agreements, reverse repurchase agreements, and similar arrangements from being used as eligible IM collateral. Finally, the Commission would have included a technical amendment to the haircut schedule set forth in Regulation 23.156(a)(3)(i)(B) to add a footnote that was inadvertently omitted when the rule was originally promulgated. |
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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: Completed Actions |
Major: No | Unfunded Mandates: No |
CFR Citation: 17 CFR 23 | |
Legal Authority: 7 U.S.C. 6s(e) |
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: Warren Gorlick Associate Director, Market Participants Division Commodity Futures Trading Commission Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581 Phone:202 418-5195 Email: wgorlick@cftc.gov |