A CFTC Market Risk Advisory Subcommittee considered Central Counterparty Clearing House-proposed plans "for the transition of discounting and price alignment interest for certain products to the secured overnight financing rate."
The CFTC Divisions of Market Oversight, Swap Dealer and Intermediary Oversight, and Clearing and Risk warned regulated entities "to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative pricing."
The SEC amended the definitions of "covered clearing agency," "central securities depository services" and "sensitivity analysis" to be applicable to central counterparties and securities depositories.
The SEC amended the definitions of "covered clearing agency," "central securities depository services," and "sensitivity analysis" to be applicable to central counterparties and securities depositories.
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 Federal Reserve Bank of New York analyzed the potential impact of a cyberattack transmitted through a payment system against a (i) single large bank, (ii) group of smaller banks and (iii) common service provider.
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.
A group of fourteen trade associations urged the European Commission to grant an extension for the temporary equivalence for UK central counterparties until certain regulatory implementations have been made under EMIR 2.2 and until the European Securities and Markets Authority.
The CFTC voted to propose amending its uncleared swap margin regulations to (i) extend the implementation date of initial margin requirements, and (ii) exempt certain transactions from uncleared margin requirements.
At a CFTC Global Markets Advisory Committee meeting, Commissioners considered (i) implementation of margin requirements for uncleared swaps and (ii) the treatment of central counterparties under EU proposed rules.