In a supervision and regulation letter to institutions that have large derivatives portfolios and relationships with investment funds, the Federal Reserve Board reiterated previously issued expectations as to large banks' counterparty credit risk management and margin practices.
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In a joint statement, the FRB and the OCC said they will not recommend enforcement action against swap dealers that are parties to certain legacy swaps in connection with the UK's departure from the EU.
The OCC, Federal Reserve Board, FDIC, Farm Credit Association, and Federal Housing Finance Agency jointly adopted an interim final rule to delay the compliance dates for initial margin requirements.
The FDIC adopted a series of amendments to its swap margin rules, including for LIBOR transition, inter-affiliate initial margin and the extension of compliance dates.
The CFTC Global Markets Advisory Committee considered subcommittee recommendations for improving the scoping and implementation of initial margin requirements for uncleared swaps.