CFTC Unanimously Approves a Proposal to Amend the Clearing Requirement to Help End-Users


On August 23, 2018, the Commodity Futures Trading Commission (“CFTC“) unanimously proposed a rule that “exempt[s] from the clearing requirement swaps entered into by bank holding companies and savings and loan holding companies with consolidated assets of $10 billion or less, and community development financial institutions that meet certain conditions.” This change is consistent with prior no-action letters. Comments are allowed for 60 days following the proposed rule’s publishing in the Federal Register. Press Release.