RegAlert2012-10-12 | CFTC Staff Letter 12-20Added · Updated
Time-Limited No-Action Relief: Swaps in Agricultural and Exempt Commodities Not to be Considered in Calculating Aggregate Gross Notional Amount for Purposes of Swap Dealer De Minimis Exception and Calculation of Whether a Person is a Major Swap Participant
The Division of Swap Dealer and Intermediary Oversight will not recommend enforcement action against any person for failing to include swaps referencing exempt or agricultural commodities executed prior to October 20, 2012, in the calculation of the aggregate gross notional amount for purposes of the swap dealer de minimis exception under Commission Regulation 1.3(ggg)(4). Additionally, the Division will not recommend enforcement action for excluding exposures arising from such swaps from the daily average aggregate uncollateralized outward exposure and daily average aggregate potential outward exposure calculations under Commission Regulation 1.3(jjj)(4) for the period from October 12, 2012, through October 20, 2012, inclusive.
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U.S. COMMODITY FUTURES TRADING COMMISSION
Three Lafayette Centre
1155 21st Street, NW, Washington, DC 20581
Telephone: (202) 418-5977
Facsimile: (202) 418-5407 gbarnett@cftc.gov
Division of Swap Dealer and
Intermediary Oversight
Gary Barnett
Director
CFTC Letter No. 12-20
No-Action
October 12, 2012
Division of Swap Dealer and Intermediary Oversight Re: Time-Limited No-Action Relief: Swaps in Agricultural and Exempt Commodities Not to be Considered in Calculating Aggregate Gross Notional Amount for Purposes of Swap Dealer De Minimis Exception and Calculation of Whether a Person is a Major Swap Participant Ladies and Gentlemen:
This letter is in response to requests from multiple parties received by the Division of Swap Dealer and Intermediary Oversight (“Division”) of the Commodity Futures Trading Commission (“Commission”) requesting relief from the obligation to include certain swaps referencing exempt commodities, 1 such as energy commodities or metals, and agricultural commodities 2 in the calculation of the aggregate gross notional amount of swaps connected with
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Lineage: In force
Source: Commodity Futures Trading Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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CFTC published 6 documents in the last 30 days. We email you each new one the day it's published.