Capital & Margin

Capital & Margin for Non-banks

The Commission issued proposed rules to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Information regarding Capital & Margin is provided below, including factsheets for each proposed rule, and details of meetings held between CFTC staff and outside parties.

Related Federal Register Releases

Final Rule: PDF Version
Upcoming
17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants

Final Rule: 85 FR 57562 // PDF Version
9/15/2020
17 CFR Parts 1, 23, and 140
Capital Requirements of Swap Dealers and Major Swap Participants

Effective Date: Monday, November 16, 2020

See also:


81 FR 91252 , 12/16/2016 / PDF Version
17 CFR Parts 1, 23, and 140
Capital Requirements of Swap Dealers and Major Swap Participants

82 FR 13971, 3/16/2017 // PDF Version
17 CFR Parts 1, 23, and 40
Capital Requirements of Swap Dealers and Major Swap Participants

Proposed Rule: 85 FR 41463 // PDF Version
17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants

Comment File - Closing Date: 09/08/2020

See Also:

84 FR 56950, 10/24/2019 // PDF Version
17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants


85 FR 19878, 4/9/2020 // PDF Version
17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants


85 FR 41346, 7/10/2020 // PDF Version
17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants

Final Rule: 85 FR 27674// PDF Version
05/11/2020
17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Effective Date: Wednesday, June 10, 2020

Purposed Rule: 84 FR 69446 // PDF Version
12/19/2019
17 CFR Parts 1, 23, and 140
Capital Requirements of Swap Dealers and Major Swap Participants

Comment File – Closing Date:3/3/2020

Purposed Rule: 84 FR 56950 // PDF Version
10/24/2019
17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants

Comment File - Closing Date:12/23/2019

Purposed Rule: 84 FR 56392 // PDF Version
10/22/2019
17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants

Comment File – Closing Date:12/23/2019

Final Rule: 84 FR 12065 // PDF Version
4/1/2019
17 CFR Part 23 Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participant
Effective Date: Monday, April 1, 2019

Final Rule: 83 FR 60341  //  PDF Version
11/26/2018
17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Effective Date: Wednesday, December 26, 2018


See also:


83 FR 23842, 5/23/2018 // PDF Version
17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants


Final Rule: 83 FR 43510 // PDF Version
08/27/2018
17 CFR Part 3
Chief Compliance Officer Duties and Annual Report Requirements for Futures Commission Merchants, Swap Dealers, and Major Swap Participants
Effective Date: Wednesday, September 26, 2018


See also:

82 FR 21330 , 5/8/2017 // PDF Version
17 CFR Part 3
Chief Compliance Officer Duties and Annual Report Requirements for Futures Commission Merchants, Swap Dealers, and Major Swap Participants; Amendment

Purposed Rule: 82 FR 13971 // PDF Version 
3/16/2017
17 CFR Parts 1, 23, and 40
Capital Requirements of Swap Dealers and Major Swap Participants

Comment File - Closing Date: 3/16/2017

Purposed Rule: 81 FR 91252 // PDF Version 
12/16/2016
17 CFR Parts 1, 23, and 140
Capital Requirements of Swap Dealers and Major Swap Participants

Comment File - Closing Date: 3/16/2017

Orders and Other Announcements: <81 FR 63376 // PDF Version
9/15/2016
17 CFR Chapter I
Comparability Determination for Japan: Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Effective Date: Thursday, September 15, 2016

Final Rule: 81 FR 34818 // PDF Version
5/31/2016
17 CFR Parts 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants--Cross-Border Application of the Margin Requirements
Effective Date: Monday, August 01, 2016

Final Rule:  81 FR 636 // PDF Version
1/2/2016
17 CFR Parts 23 and 140
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Effective Date: Friday, April 01, 2016

Proposed Rule:  80 FR 41376 // PDF Version
7/14/2015
17 CFR Parts 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants--Cross-Border Application of the Margin Requirements 
Effective Date: Monday, September 14, 2015

Proposed Rule: 79 FR 59898 // PDF Version
10/3/2014
17 CFR Parts 23 and 140
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants

Comment File - Closing Date: 12/2/2014

Proposed Rule: 76 FR 58176 // PDF Version9/20/2011
17 CFR Part 23
Swap Transaction Compliance and Implementation Schedule: Trading Documentation and Margining Requirements under Section 4s of the CEA

Comment File span style="font-family: "Arial","sans-serif";">- Closing Date: 11/4/2011

Proposed Rule: 76 FR 27802 // PDF Version
5/12/2011
17 CFR Parts 1, 23, and 140
Capital Requirements of Swap Dealers and Major Swap Participants

Comment File - Closing Date: 7/11/2011

Proposed Rule: 76 FR 23732 // PDF Version
4/28/2011
17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants

Comment File - Extended Date: 7/11/2011

See also:

76 FR 27621 // PDF Version
Comments Extension: 17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants

Additional Information

Fact Sheet: Comparability Determination for Japan Uncleared Swap Margin Rules for Substituted Compliance Purposes

Event: CFTC to Hold an Open Commission Meeting on September 8th to Consider System Safeguards Testing Requirements Final Rules and a Comparability Determination for Japan Uncleared Swap Margin Rules for Substituted Compliance Purposes

Fact Sheet:  Final Rule Regarding Margin for Uncleared Swaps

Fact Sheet: Proposed Rules Regarding Capital Requirements for Swap Dealers and Major Swap Participants
Q&A: Capital Requirements for Swap Dealers and Major Swap Participants

Event: Open Meeting on Fourteenth Series of Proposed Rules under the Dodd-Frank Act

Fact Sheet: Proposed Rules Regarding Margin for Uncleared Swaps
Q&A: Proposed Rules Regarding Margin for Uncleared Swaps

Event: Open Meeting on Thirteenth Series of Proposed Rules under the Dodd-Frank Act

Event: CFTC, SEC Staff Roundtable to Discuss Issues Related to Capital and Margin for Swaps and Security-Based Swaps