CFTC Staff Letters

CFTC Staff Letters provides Letters from 2008 and later. For Letters published before 2008 visit the Letters Archive page.

Title Body
PDF Image20-01 Letter Type: No-Action
Division: DMO
Regulation Parts: 37, 37.9, 37.203, 38, 38.152, 38.500
Tags: Cleared Swaps, DCM, SEF
Issuance Date:
Description:

This relief revises CFTC Staff No-Action Letter 17-27 with respect to the error correction process for cleared erroneous swaps.

PDF Image19-29 Letter Type: No-Action
Division: DSIO
Regulation Parts: 23.154
Tags: Initial margin, Margin, SD
Issuance Date:
Description:

No-action relief granted to a swap dealer concerning the calculation of initial margin under Commission regulation 23.154.

PDF Image19-28 Letter Type: No-Action
Division: DCR
Regulation Parts: 2(h)(1)(A), 50.2, 50.50, 50.51
Tags: Clearing Requirement, LIBOR, IBOR
Issuance Date:
Description:

No-action relief from the swap clearing requirement for amendments to legacy uncleared swaps to facilitate orderly transition from inter-bank offered rates to alternative risk-free rates.

PDF Image19-27 Letter Type: No-Action
Division: DMO
Regulation Parts: 2(h)(8)
Tags: Trade Execution, LIBOR, IBOR
Issuance Date:
Description:

No-action relief from the trade execution requirement to facilitate an orderly transition from the inter-bank offered rates to alternative risk-free rates.

PDF Image19-26 Letter Type: No-Action
Division: DSIO
Regulation Parts: 1.3, 23.150, 23.151, 23.152, 23.153, 23.154, 23.155, 23.156, 23.157, 23.158, 23.159, 23.161, 23 Subpart H, 23.451, 23.501, 23.502, 23.504, 23.505
Tags: De Minimis, Margin, SD, Swap Dealer, LIBOR, IBOR, Business Conduct Standards, Eligible Contract Participant, Swap Documentation
Issuance Date:
Description:

No-action relief to facilitate an orderly transition of swaps from inter-bank offered rates to alternative benchmarks.

PDF Image19-25 Letter Type: No-Action
Division: DSIO
Regulation Parts: 23.152, 23.153
Tags: Initial margin, Margin, minimum transfer amount, MTA
Issuance Date:
Description:

Staff Time-Limited No-Action Position Regarding Application of Minimum Transfer Amount under the Uncleared Margin Rules

PDF Image19-23 Letter Type: No-Action
Division: DCR
Regulation Parts: 2(h), 50.2, 50.4
Tags: Clearing, Swaps, ESM
Issuance Date:
Description:

Revised no-action relief for the European Stability Mechanism from the swap clearing requirement in Section 2(h)(1) of the Commodity Exchange Act and Commission Regulations 50.2 and 50.4.

PDF Image19-22 Letter Type: No-Action
Division: DSIO
Regulation Parts: 23.150, 23.151, 23.152, 23.153, 23.154, 23.155, 23.156, 23.157, 23.158, 23.159, 23.161
Tags: Margin, SD, Swap Dealer, Uncleared Swaps, ESM
Issuance Date:
Description:

Revised no-action position with respect to uncleared swaps with the European Stability Mechanism under Commission Regulations 23.150-159, 23.161.

PDF Image19-21 Letter Type: No-Action
Division: DSIO
Regulation Parts: 4d, 4m
Tags: CTA, IB, Statutory Disqualification
Issuance Date:
Description:

No-action relief was granted to an entity from the statutory disqualification condition of CFTC Staff Letter No. 12-70 with repsect to its affiliate support activities.

PDF Image19-20 Letter Type: No-Action
Division: DSIO
Regulation Parts: 4m(1)
Tags: CPO, Registration
Issuance Date:
Description:

No-action relief was granted to an entity from the requirement to register as a CPO with respect to a commodity pool; provided that, the entity delegates its CPO responsibilities for that pool to a registered CPO, subject to certain conditions.