In a no-action letter, the CFTC’s Market Participants Division said it will not recommend an enforcement action against a swap entity for its failure to disclose to certain counterparties the Pre-Trade Mid-Market Mark of certain swaps on the Secured Overnight Financing Rate under certain conditions.
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The NFA issued three notices covering regulatory obligations, recent amendments and rule interpretations for (i) FCM, FDM and IB Members, (ii) CPO and CTA Members and (iii) Swap Dealer Members.
Federal Reserve Board Vice Chair for Supervision Michael S. Barr promoted incorporating "exploratory scenarios" to address limitations in the FRB's current stress test program for the U.S. banking system.
Swap dealers at three different financial institutions settled separate CFTC enforcement actions for trade reporting and other compliance violations.
Former Federal Reserve Board Vice Chair for Supervision Randal Quarles argued that the regime currently used by the FRB to conduct stress tests is “illegal.”