Regulatory Alerts2016-06-16 | 2016-14035Clearing Requirement Determination Under Section 2(h) of the CEA for Interest Rate Swaps
The Commodity Futures Trading Commission proposes to amend its rules to establish a new clearing requirement for interest rate swaps denominated in nine additional currencies and certain other swap classes. This proposed determination expands the scope of mandatory clearing to include fixed-to-floating swaps, basis swaps, and forward rate agreements in currencies such as the Australian dollar, Canadian dollar, and Hong Kong dollar. The action aims to harmonize U.S. regulatory standards with clearing requirements implemented by counterparts in jurisdictions including Australia, Canada, the European Union, and Hong Kong.
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