CFTC No-Action Relief

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On June 4, the CFTC issued a no-action letter providing relief from the clearing requirement for swaps entered into by eligible treasury affiliates. An eligible treasury affiliate electing the relief described in the no-action letter must report certain information to a registered swap data repository or the CFTC; however, the election is not required to be reported until September 9, 2013. CFTC Release. No-Action Letter.


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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