Federal banking agencies proposed amendments to conform swap margin rules to recently adopted rules restricting the cancellation rights of qualified financial contracts in the event of a counterparty entering resolution proceedings.
The FDIC and the SEC proposed a rule to govern the orderly liquidation of "covered brokers-dealers," or large broker-dealers that are subject to liquidation under Title II of the Dodd-Frank Act and not dissolution under the Securities Investor Protection Act ("SIPA").
Commentary by Steven Lofchie
The FDIC and the SEC proposed a rule to govern the orderly liquidation of "covered brokers-dealers," or large broker-dealers that are subject to liquidation under the Dodd-Frank Act and not dissolution under the Securities Investor Protection Act.
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.
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.