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."
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U.S. prudential regulators' proposed rule amendments governing margin requirements for uncleared swaps and security-based swaps were published in the Federal Register.
The Federal Reserve Board, Farm Credit Administration, Federal Housing Finance Agency and OCC proposed rule amendments governing margin requirements for uncleared swaps and security-based swaps.
The FDIC proposed amending its rules governing margin requirements for uncleared swaps and security-based swaps.
The Office of the Comptroller of the Currency ("OCC") reported that derivatives trading revenue of insured U.S. commercial banks and savings associations dropped to $4.2 billion in the fourth quarter of 2018. This represented a $2.9 billion (or 41 percent) decrease over revenue compared to the previous quarter and $1.7 billion less (or 28.5 percent) than last year. In addition, the report found that derivative notional amounts went down in the fourth quarter of 2018 14.8 percent to $176.4 trillion and that derivative contracts continued to be concentrated in interest rate products. The report