CFTC Amends No-Action Relief from Swap Clearing Requirement for Certain Treasury Affiliates

5 December 2014
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  • The CFTC has issued a no-action letter amending the no-action relief previously granted to certain “eligible treasury affiliates” from the clearing requirement for swaps entered into by such treasury affiliates on behalf of non-financial affiliates.
  • The no-action letter addresses challenges faced by treasury affiliates in complying with certain conditions set forth in the prior no-action letter issued in June 2013,  by altering some of those conditions to permit additional market participants to rely on the relief originally set forth in the 2013 letter.