Regulatory Alerts2019-04-01 | 2019-06109De Minimis Exception to the Swap Dealer Definition for Swaps by Insured Depository Institutions in Connection With Loans to Customers
The Commodity Futures Trading Commission amended its regulations to establish specific factors for determining whether swaps entered into by insured depository institutions in connection with customer loans count toward the de minimis threshold for swap dealer registration. This final rule, effective April 1, 2019, allows certain swaps with specified characteristics to be excluded from the aggregate gross notional amount calculation, thereby streamlining the application of the de minimis exception. The amendment aims to provide greater clarity on which swaps require counting while accounting for practical considerations relevant to swaps connected to loan origination.
Share