CFTC Adopts Final Rule Amending De Minimis Exception to Swap Dealer Definition

Orrick - Finance 20/20
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Orrick - Structured Finance Group

On March 25, the CFTC adopted a final rule amending the de minimis exception to the definition of “swap dealer.” Under the final rule, swaps entered into by Insured Depository Institutions (IDIs) in connection with loans to customers would not count towards the $8 billion aggregate notional amount threshold used in the de minimis exception. Release. Final Rule.

 

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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