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 Image19-24 Letter Type: Advisories
Division: DSIO
Regulation Parts: 3.3
Tags: CCO, FCM, MSP, SD
Issuance Date:
Description:

Advisory providing further guidance on certain requirements applicable to swap dealers, futures commission merchants, and major swap participants in connection with the preparation and submission of chief compliance officer annual compliance reports pursuant to § 3.3.

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.