Regulatory Alerts2016-09-15 | 2016-22045Comparability Determination for Japan: Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
The Commodity Futures Trading Commission issued a comparability determination finding that Japan's margin requirements for uncleared swaps are comparable to U.S. rules, with one exception. This determination allows Covered Swap Entities to satisfy U.S. margin obligations by complying with Japanese regulations under the substituted compliance framework. The decision is effective September 15, 2016, and facilitates cross-border swap activities while maintaining financial stability standards.
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