Regulatory Alerts2019-11-07 | 2019-23541Margin and Capital Requirements for Covered Swap Entities
The OCC, Board, FDIC, FCA, and FHFA propose amendments to the Swap Margin Rule to address legacy swaps and inter-affiliate margin provisions. The proposed rule would allow legacy swaps to retain their status when amended to replace discontinued interbank offered rates or due to technical adjustments, portfolio compression, or notional reductions. Additionally, the agencies seek to repeal inter-affiliate initial margin requirements, introduce an extra compliance year for initial margin, and clarify trading documentation timing.
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