DCR is providing time-limited relief from the swap clearing requirement and related exceptions and exemptions. This relief is to help facilitate the orderly transition from swaps that reference the London Interbank Offered Rate (LIBOR) and other interbank offered rates to swaps that reference alternative benchmarks. (ARRC No-Action Relief Extension Request)

DCR is providing time-limited relief from the swap clearing requirement and related exceptions and exemptions. This relief is to help facilitate the orderly transition from swaps that reference the London Interbank Offered Rate (LIBOR) and other interbank offered rates to swaps that reference alternative benchmarks.

DCR is extending the relief provided by CFTC Letter No. 20-13 and will not recommend that the Commission take enforcement action against the European Stability Mechanism (ESM) for failure to comply with the swap clearing requirement until the earlier of: (i) December 31, 2020, at 11:59 pm (Eastern Time); or (ii) the effective date of final Commission action applicable to swaps entered into by ESM that would otherwise be subject to the Commission’s clearing requirement.

Extended 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.

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.

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.

Extension of Time-Limited No-Action Relief from the Clearing Requirement for Swaps Entered into by Cooperatives.
The Division is extending the relief provided in the June 7 No-Action Relief until July 19, 2013. Accordingly, the Division will not recommend that the Commission commence an enforcement action against a person for failure to comply with the requirement under section 2(h)(1)(A) of the CEA and part 50 of the Commissions regulation to clear a CDS or interest rate swap subject to required clearing in 50.4 of the Commissions regulations.

No-Action Relief for Corporación Andina de Fomento from the Swap Clearing Requirement in Section 2(h)(1) of the Commodity Exchange Act and Commission Regulations 50.2 and 50.4.

Time-Limited No-Action Relief from the Clearing Requirement for Swaps Entered into by Cooperatives.