Opening Statements by CFTC and SEC Staff
1:15 p.m. – 3:00 p.m.
Panel One: Margin
• Margin methodologies and margin requirements for uncleared swaps (including initial and variation margin).
• Portfolio margining.
• Margin and end-users.
• Requirements for form and location of collateral including issues related to portfolio margining.
• Legacy swap agreements, such as pre-existing swaps and security-based swaps.
3:00 p.m. – 3:15 p.m.
3:15 p.m. – 5:00 p.m.
Panel Two: Capital
• Establishing capital requirements for jointly registered entities, including broker-dealers, futures commission merchants, swap dealers, security-based swap dealers, major swap participants, and major security-based swap participants.
• Non-financial firms registered as swap entities.
• Methods for computing regulatory capital, including models (proprietary and standardized) and standard haircuts.
• Capital requirements for legacy swap positions.
• Capital requirements for major swap participants and major security-based swap participants.
Last Updated: December 6, 2010