On February 23, 2017, the Federal Reserve Board (Board) and the Office of the Comptroller of the Currency (OCC) issued guidance regarding how supervisors should examine for compliance with the swap margin rule. The swap margin rule “established margin requirements for swaps not cleared through a clearinghouse”, and margin requirements “help ensure the safety and soundness of swap trading and help reduce risk to the financial system associated with non-cleared swaps.” The guidance issued by the Board and the OCC “explains that the Board and the OCC expect swap entities covered by the rule to prioritize their compliance efforts surrounding the March 1, 2017, variation margin deadline according to the size and risk of their counterparties.” Board Release. OCC Release. Board Guidance. OCC Guidance.