ICE announced that the IFUS Error Trade Policy will apply to all IFUS energy products effective October 15. This comes in connection with the transition of ICE OTC cleared energy swaps to energy futures and options on IFUS. See: ICE Advisory Notice (links externally ICE website). See also: IFUS Error Trade Policy.

On October 8, 2012, ICE OTC issued an advisory notice announcing position limits and accountability levels for the North American natural gas, electric power and environmental contracts that will be transitioned to futures on IFUS. The position limits, accountability levels and product aggregations have since been amended. See: ICE Advisory Notice (links externally to ICE website).

IFUS has implemented block trade requirements for energy futures and options contracts effective Monday, October 15. This comes in connection with the transition of ICE OTC energy swaps to energy futures and options on IFUS. IFUS announced that all energy block trades must comply with the same Exchange and CFTC requirements already in place for allowable block trades at IFUS. It is further noted that on Wednesday, October 17, IFUS will implement revised block minimums as detailed in this rule filing. This notice supersedes the October 12 Exchange Notice. The attached FAQ covers the following

Commissioner O'Malia's states that the recent no-action letters and Q&As will provide temporary relief from the compliance deadlines and clarify regulations, although he criticizes the "ad-hoc" nature of the process. He describes the CFTC as having "promulgated thousands of pages of rulemakings in isolation and then resorting to this flurry of hurried staff interpretations in order to provide some measure of temporary comfort to the market." A key quote from the statement: "By the end of the day Commission staff will have released 18 no-action letters and Q&As in an attempt to provide

The FDIC is issuing a final rule that implements the requirements in Section 165(i) of the Dodd-Frank Act regarding stress tests ("final rule"). Section 165(i)(2) requires the Corporation to issue regulations which require FDIC-insured state nonmember banks and FDIC-insured state-chartered savings associations with total consolidated assets of more than $10 billion to conduct annual stress tests, report the results of such stress tests to the Corporation and Federal Reserve Board, and publish a summary of the results of the stress tests. The final rule requires large covered banks to conduct