CFTC grants no-action relief for development bank activity

Letter fotolia
By Ross Lancaster
16 May 2018

The US Commodity Futures Trading Commission on Wednesday issued a no-action letter that will allow non-US counterparties to not account for swaps with certain international financial institutions when determining whether or not they are swap dealers.

The relief, which ABN Amro requested from the CFTC’s division of swap dealer and intermediary oversight (DSIO), will allow non-US counterparties to exclude swaps with institutions such as the European Bank for Reconstruction and Development and Asian Development Bank from their de minimis swap dealer calculations.

The de minimis ...

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