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).
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