OCC Warns Non-Dealer Banks of Imminent Effect of Clearing Requirement

This OCC Bulletin reminds the management of national banks, federal savings associations, and federal branches and agencies of foreign banks (collectively, banks) to be aware of the CFTC swap clearing rules, which will come into effect for banks that are not swap dealers on June 10, 2013, as to those swaps that are subject to a mandatory clearing requirement.

See: Press Release.