The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
The CFTC voted to propose amending its uncleared swap margin regulations to (i) extend the implementation date of initial margin requirements, and (ii) exempt certain transactions from uncleared margin requirements.
The CFTC is soliciting nominations for membership to the Market Risk Advisory Committee, which makes recommendations to the CFTC regarding systemic issues and the evolving structure of derivatives markets and other related financial markets.
House Agriculture Committee leadership urged federal banking regulators and the CFTC to work with the European Commission to: (i) adhere to the agreed upon timetable for implementation of rules on margin for uncleared swaps, or if that effort is unsuccessful, (ii) to coordinate a new global implementation timeline.
Eight of ten voting members of the Financial Stability Oversight Council ("FSOC") testified at a House Financial Services Committee oversight hearing on FSOC's agenda, operations and structure. In opening remarks, Representative Jeb Hensarling (R-TX) observed that FSOC has earned "bipartisan...