ISDA summarized the final results of a consultation related to new benchmark fallbacks for derivative contracts that cite various interbank offered rates.
The CFTC Office of Inspector General alleged that the CFTC's stress-testing capabilities have been undermined by "a failure of leadership, poor decision-making, and territoriality" in the Risk Surveillance Branch of the Division of Clearing and Risk.
The SEC proposed establishing "risk mitigation" requirements applicable to security-based swap dealers, including portfolio reconciliation and compression, and swap trading relationship documentation.
The CFTC permitted a registered derivative clearing organization located in Europe to clear swap transactions on behalf of the customers of futures commission merchants.
The SEC adopted a rule of practice to facilitate the process for security-based swap entities to apply for relief from Exchange Act statutory disqualification prohibitions.
The Comptroller of the Currency, Federal Reserve Board and FDIC proposal allowing "advanced-approaches" banking organizations to use an alternative approach for calculating derivative exposures was published in the Federal Register.
In a joint statement, SEC Chair Jay Clayton and CFTC Chair J. Christopher Giancarlo said that their agencies have not interpreted joint rulemaking to be necessary with respect to the de minimis exception to the swap dealer definition.
The National Futures Association proposed amendments to its Compliance Rules and Interpretive Notices to cover transactions and counterparties involving swaps.
