CFTC Provides Clearing Relief for Treasury Affiliates of Commercial Swap Counterparties
Yesterday, the CFTC’s Division of Clearing and Risk issued a no-action letter providing a clearing exception to “treasury affiliates” of commercial swap end-users, subject to specified conditions. This relief is particularly critical given the imminent June 10, 2013 deadline on which financial entity treasury affiliates would otherwise need to begin clearing designated interest rate swaps and credit default swaps with swap dealer and financial counterparties.
This communication, which we believe may be of interest to our clients and friends of the firm, is for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice. This may be considered attorney advertising in some jurisdictions. Please refer to the firm's privacy notice for further details.
Copy link to share post