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


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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