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CFTC Adopts Final Cross-Border Margin Rules for Non-Cleared Swaps
30 June 2016
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The CFTC has adopted final rules addressing the cross-border application of its margin rules for non-cleared swaps entered into by swap dealers and major swap participants for which no U.S. federal banking agency is a prudential regulator.
The final rules are generally consistent, in substance, with the U.S. prudential regulators’ cross-border application of their own joint final margin rules for swap dealers and major swap participants whose prudential regulator is one of the U.S. federal banking agencies.
The final rules will become effective on August 1, 2016, and the applicable compliance dates are set forth in the CFTC's margin rules.
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