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CUNA Comments on CFTC Swaps Clearing Exemption

Aug
24

On Thursday, August 16, Credit Union National Association (CUNA) submitted a comment letter to the Commodity Futures Trading Commission (CFTC) regarding its proposal to provide a clearing exemption for certain swaps entered into by cooperatives.  Under the proposed exemption, the CFTC would permit cooperatives with $10 billion or more in assets to elect not to clear swaps in connection with originating loans for members or that hedge or mitigate

Posted By Sharon Bahr read more

CFTC Excludes CUs and Banks <$10 Billion from Swap-Clearing Requirements

Jul
17

On July 10, the Commodity Futures Trading Commission (CFTC), the primary federal regulator of derivatives, adopted a final rule to provide an exception for banks and credit unions with $10 billion or less in assets from swap-clearing requirements mandated by the Dodd-Frank Act.  While few credit unions currently participate in swaps, the rule could have affected National Credit Union Administration's (NCUA) efforts to consider hedging for interest rate risk mitigation.

Posted By Sharon Bahr read more
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