United States:
Federal Register: CFTC Adopts Final Rule On Swaps Entered Into By Banks In Connection With Loans
15 April 2019
Cadwalader, Wickersham & Taft LLP
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The CFTC final rule relating to the swap dealer de
minimis threshold for swaps entered into by insured depository
institutions ("IDIs") in connection with loans to
customers was published in the Federal Register. The final
rule became effective on April 1, 2019.
As
previously covered, the rule adds a new paragraph to the
definition of "swap dealer" in
CFTC Rule 1.3. The new language would permit IDIs to exclude
swaps that satisfy certain criteria from counting towards the $8
billion de minimis dealing threshold (but not the lower
"special entity" threshold).
The content of this article is intended to provide a general
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