Regulatory Alerts2012-12-13 | 2012-29211Added · Updated
Clearing Requirement Determination Under Section 2(h) of the CEA
The Commodity Futures Trading Commission adopted final regulations establishing a mandatory clearing requirement for specific classes of credit default swaps and interest rate swaps under Section 2(h)(1)(A) of the Commodity Exchange Act. These rules require that designated swaps be cleared through registered derivatives clearing organizations to mitigate counterparty credit risk and reduce systemic instability in the financial system. The regulations also include provisions to prevent evasion of the clearing mandate and define the transition timeline for compliance, which became effective in February 2013.
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