Treasury Issues Foreign Currency Swap and Forward Exemption

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The Commodity Exchange Act, or CEA, as amended by Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, authorizes the Secretary of the Treasury to issue a written determination that foreign exchange swaps, foreign exchange forwards, or both, should not be regulated as swaps under the CEA. The Treasury Secretary has issued a determination that exempts both foreign exchange swaps and foreign exchange forwards from the definition of ‘‘swap,’’ in accordance with the applicable provisions of the CEA.

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Topics:  CEA, Dodd-Frank, FX Forwards, FX Swaps

Published In: Finance & Banking Updates, International Trade Updates, Securities Updates

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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