OCC Guidance on Transition Periods under Section 716 of the Dodd-Frank Act

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On January 3, the OCC issued guidance regarding requests for a transition period pursuant to Section 716(f) of the Dodd-Frank Act. A federal depository institution that is or may become a swap dealer may submit a request for a transition period, provided that such request conforms to the procedures and conditions established in the guidance. Written requests for transition periods must be submitted by January 31. OCC Release. OCC Guidance.