Capital Requirements of Swap Dealers and Major Swap Participants


The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is proposing to adopt new regulations and to amend existing regulations to implement sections 4s(e) and (f) of the Commodity Exchange Act (``CEA''), as added by section 731 of the Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act''). Section 4s(e) requires the Commission to adopt capital requirements for swap dealers (``SDs'') and major swap participants (``MSPs'') that are not subject to capital rules of a prudential regulator. Section 4s(f) requires the Commission to adopt financial reporting and recordkeeping requirements for SDs and MSPs. The Commission also is proposing to amend existing capital rules for futures commission merchants (``FCMs''), providing specific capital deductions for market risk and credit risk for swaps and security-based swaps entered into by an FCM. The Commission is further proposing several technical amendments to the regulations.


Federal Register, Volume 81 Issue 242 (Friday, December 16, 2016)

Federal Register Volume 81, Number 242 (Friday, December 16, 2016)

Proposed Rules

Pages 91252-91334

From the Federal Register Online via the Government Publishing Office

FR Doc No: 2016-29368

Page 91251

Vol. 81


No. 242

December 16, 2016

Part II

Commodity Futures Trading Commission


17 CFR Parts 1, 23, and 140

Capital Requirements of Swap Dealers and Major Swap Participants; Proposed Rule