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.