The Comptroller of the Currency, the Federal Reserve Board and the Federal Deposit Insurance Corporation proposed an alternative approach for calculating derivative exposures under regulatory capital rules.
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The OCC, the Federal Reserve Board and the FDIC will implement a standardized approach to calculating the exposure amount of derivative contracts under the "regulatory capital rule."
CFTC Chair J. Christopher Giancarlo urged U.S. regulators to clarify obligations for dealers to exchange initial margin where requirements are below the $50 million threshold amount specified in the rules.
Five federal agencies authorized an interim final rule that exempts particular uncleared swaps from the agencies' respective margin requirements. The final rule was published in the Federal Register.
U.S. prudential regulators' proposed rule amendments governing margin requirements for uncleared swaps and security-based swaps were published in the Federal Register.