Proposed Clearing Mandate for Interest Rate Swaps

SIFMA AMG provides comments to the Commodity Futures Trading Commission (CFTC) regarding the Commission’s Notice of Proposed Rulemaking to mandate the clearing of certain interest rate swaps.

SIFMA AMG recommends that the Commission (1) defer the compliance date for any final clearing mandate until 180 days after a regulator in a non-U.S. jurisdiction has adopted an analogous mandate and do so with a phased-in approach by counterparty type; and (2) temporarily suspend acceptance of MAT submissions that could follow the Commission’s issuance of the clearing mandates set forth in the Proposed Determination until the Commission finalizes adjustments to the MAT process.

See also:

Clearing Requirement