On June 4, 2018, the Commodity Futures Trading Commission (“CFTC” or “Commission”) by a 2 to 1 vote proposed to amend its regulations to maintain the de minimis exception threshold from swap dealer registration at the aggregate gross notional amount (“AGNA”) of $8 billion measured over the previous 12 months. Further, the CFTC is proposing to:

..Expand in several respects the insured depository institution (“IDI”) exception for swaps in connection with originating loans with customers for purposes of counting towards the de minimis threshold calculation...