Technical corrections to an OCC, Federal Reserve Board and FDIC standardized approach to calculating the exposure amount of derivative contracts under the "regulatory capital rule'" were published in the Federal Register.
The CFTC Division of Swap Dealer and Intermediary Oversight granted no-action relief to a futures commission merchant seeking to to add back to its net worth the amount of deferred tax liabilities "directly related" to intangible assets recognized for GAAP purposes as a result of a non-taxable business combination.
A CFTC final rule establishing minimum capital, liquidity, financial reporting and other related requirements applicable to CFTC-registered swap dealers and major swap participants was published in the Federal Register.
Federal Reserve Bank of New York Executive Vice President Daleep Singh reviewed the actions taken by the Federal Reserve Board to provide emergency credit and liquidity in order to safeguard the economy during the COVID-19 pandemic.
NFA reminded members that retail foreign exchange dealers / forex dealer members and introducing brokers must account in their net capital computations for guaranteed obligations and liabilities of subsidiaries or affiliates.
The Federal Reserve Board, the FDIC and the OCC made temporary adjustments to the supplementary leverage ratio calculation for certain depository institutions to enable them to expand lending to households and businesses.
The SEC amended the definitions of "covered clearing agency," "central securities depository services" and "sensitivity analysis" to be applicable to central counterparties and securities depositories.