Release Number 8299-20

CFTC Approves Amendments to Swap Clearing Requirement Exemptions

November 02, 2020

— The Commodity Futures Trading Commission at its open meeting today approved final rules exempting swaps entered into by certain financial institutions from the Commission’s swap clearing requirement under the Commodity Exchange Act (CEA).

The final rules govern which swaps are exempt from the clearing requirement under section 2(h)(1) of the CEA and Commission regulations. These amendments exempt swaps entered into by central banks, sovereign entities, international financial institutions, certain bank holding companies, savings and loan holding companies, and community development financial institutions. The Commission also published a compliance schedule listing the past compliance dates for the 2012 and 2016 swap clearing requirement regulations. Certain other non-substantive, technical amendments were also approved.

This rule is effective 30 days after publication in the Federal Register.

Additional information on the rulemaking, including statements of the Chairman and the Commissioners, is available here.