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Margin and Capital Requirements for Covered Swap Entities - Exemptions Final Rule

Open Date:
Open for comment
Deadline:
All comments are due by
Type:
Final Rule
Number:
RIN-2590-AA45
Group:
 
Fannie Mae; FHLBanks; Freddie Mac; Other
Document Number:
2016-18193
CFR:
12 CFR Part 1221
CFR Description:
Margin and Capital Requirements for Covered Swap Entities
Federal Register Publish Date:
View Document:
/SupervisionRegulation/Rules/RuleDocuments/Swaps Margin Final Rule FR Notice_Release 8-1-2016.pdf|169.47 KB;
Contact Information:

For Further Information Contact:  George Sacco, Senior Financial Analyst, Division of Housing Mission and Goals, (202) 649-3276, George.Sacco@fhfa.gov, or Peggy K. Balsawer, Associate
General Counsel, Office of General Counsel, (202) 649-3060, Peggy.Balsawer@fhfa.gov, Federal Housing Finance Agency, Constitution Center, 400 7th St., SW, Washington, DC 20219. The telephone number for the Telecommunications Device for the Hearing Impaired is (800) 877-8339.

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SUMMARY:  The FHFA, OCC, Board, FDIC, and FCA (each an “Agency” and, collectively, the “Agencies”) are adopting exemptions from the initial and variation margin requirements published by the Agencies in November 2015 pursuant to sections 731 and 764 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act” or the “Act”). Pursuant to Title III of the Terrorism Risk Insurance Program Reauthorization Act of 2015 (“TRIPRA”), this final rule exempts certain noncleared swaps and non-cleared security-based swaps with certain financial and nonfinancial end users that qualify for an exception or exemption from clearing.

This final rule is effective October 1, 2016.

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