A Federal Reserve Board final rule that expands the number of financial institutions that fall under the "netting" provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 was published in the Federal Register.
News & Insights
The Federal Reserve Board adopted a final rule that expands the number of financial institutions that fall under the "netting" provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991.
SIFMA, IIB, ISDA, and FIA recommended changes to CFTC-proposed cross-border regulations concerning registration thresholds and certain requirements applicable to swap dealers and major swap participants.
The CFTC voted to (i) approve a final rule amending regulations governing derivatives clearing organizations, (ii) propose a prohibition on "post-trade name give-up" at swap execution facilities and (iii) propose new cross-border rules governing registration requirements applicable to swap dealers and major swap participants.
ISDA updated its Model Netting Act, which provides a template for jurisdictions considering enforcing close-out netting.