Federal Register: CFTC Makes QFC-Related Amendments to Swap Margin Rules

The CFTC final rule amending the uncleared swap margin requirements was published in the Federal Register. The final rule will become effective on December 26, 2018.

As previously covered, the amendments were adopted to comply with the stay-related rules applicable to "qualified financial contracts" ("QFCs"). Further, the adopted amendments clarify that (i) swap agreements are notexcluded from the CFTC Margin Rule definition of "eligible master netting agreement," based on their compliance with the QFC rules, and (ii) any legacy uncleared swap that is out of scope for the CFTC swap margin rules will not become in-scope as a result of amendments made to comply with the QFC rules.