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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