CFTC Provides Clearing Relief for Treasury Affiliates of Commercial Swap Counterparties
Client Newsflash

Created date

Yesterday, the CFTC’s Division of Clearing and Risk issued a no-action letter providing a clearing exception to “treasury affiliates” of commercial swap end-users, subject to specified conditions. This relief is particularly critical given the imminent June 10, 2013 deadline on which financial entity treasury affiliates would otherwise need to begin clearing designated interest rate swaps and credit default swaps with swap dealer and financial counterparties.