2019-28052: Margin and Capital Requirements for Covered Swap Entities

Summary

The OCC, Board, FDIC, FCA, and FHFA (collectively, the agencies) are reopening the comment period for the notice of proposed rulemaking published in the Federal Register on November 7, 2019, to amend the agencies' regulations that require swap dealers and security- based swap dealers under the agencies' respective jurisdictions to exchange margin with their counterparties for swaps that are not centrally cleared (Proposed Swap Margin Amendments). Reopening the comment period that closed on December 9, 2019, will allow interested persons additional time to analyze and comment on the Proposed Swap Margin Amendments.

The agency’s own summary, as published.

What this changes

Amends 5 parts of the Code of Federal Regulations — the standing rules this notice rewrites.

• 12 CFR 45 Margin and Capital Requirements for Covered Swap Entities
• 12 CFR 237 Swaps Margin and Swaps Push-out (Regulation KK)
• 12 CFR 349 Derivatives
• 12 CFR 624 Margin and Capital Requirements for Covered Swap Entities
• 12 CFR 1221 Margin and Capital Requirements for Covered Swap Entities