Discussion of LEI/UCI implementation issues.

Participants discussed issues relating to the implementation of Title VII of Dodd-Frank that are relevant to community and regional banks.

See attached file.

The external attendees expressed concerns about the proposed External Business Conduct Standards rules and further discussed the views expressed in February 22 comment letter from ABC/CIEBA and the May 3 comment letter from ABC.
 

On May 18, 2011, CFTC staff met with representatives of pension funds to discuss proposed CFTC regulations related to swap confirmation requirements.

Submission of swaps executed on a SEF for clearing, clearinghouse rules, clearing mandate, and allocations.

Meeting with represenatives from AFME and SIFMA relating to a repository for foreign exchange swap transactions.

Discussion of Eropean considerations in design and implementation of LEI/UCI.

The participants discussed various issues related to position limits, including aggregation and the methodology of setting and adjusting limits.