Margin rule should focus on banks -CFTC’s Gensler
News Article
February 9, 2011
In remarks prepared for the hearing and released by the House Agriculture Committee, CFTC Chairman Gary Gensler said margin requirements would be aimed at swap dealers, not end users, who are exempt from clearing requirements.
"Proposed rules on margin requirements should focus only on transactions between financial entities rather than those transactions that involve non-financial end users," Gensler said.
Cross References
Dodd-Frank Act, Title VII, Secs. 723(a)(7) 731; new CEA Secs. 2(h)(7) 4s(e)(3)(A)
CWT C&F Memo: Regulation of End Users of Swaps Under the Dodd-Frank Wall Street Reform and Consumer Protection Act (July 2010)