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TREAS/OCC RIN: 1557-AE69 Publication ID: Spring 2020 
Title: ●Margin and Capital Requirements for Covered Swap Entities 
Abstract:

The OCC, FRB, FDIC, FCA, and FHFA issued a notice of proposed rulemaking that would permit swaps entered into prior to an applicable compliance date (legacy swaps) to retain their legacy status in the event that they are amended to replace an interbank offered rate (IBOR) or other discontinued rate, repeal the inter-affiliate initial margin provisions, introduce an additional compliance date for initial margin requirements, clarify the point in time at which trading documentation must be in place, permit legacy swaps to retain their legacy status in the event that they are amended due to technical amendments, notional reductions, or portfolio compression exercises, and make technical changes to relocate the provision addressing amendments to legacy swaps that are made to comply with the Qualified Financial Contract Rules.

 

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
EO 13771 Designation: Independent agency 
CFR Citation: 12 CFR 45   
Legal Authority: 7 U.S.C. 6s(e)    12 U.S.C. 1 et seq.    12 U.S.C. 93a    12 U.S.C. 161    12 U.S.C. 481    12 U.S.C. 1818    12 U.S.C. 3907    12 U.S.C. 3909    12 U.S.C. 5412(b)(2)(B)    15 U.S.C. 78o-10(e)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  11/07/2019  84 FR 59970   
NPRM Comment Period End  12/09/2019 
Final Rule  06/00/2020 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: https://www.regulations.gov/docket?D=OCC-2019-0023   Public Comment URL: https://www.regulations.gov/docket?D=OCC-2019-0023  
RIN Data Printed in the FR: No 
Agency Contact:
Jamey Basham
Assistant Director
Department of the Treasury
Comptroller of the Currency
Chief Counsel's Office, 400 7th Street SW.,
Washington, DC 20219
Phone:202 649-6277
Email: james.basham@occ.treas.gov

Allison Hester-Haddad
Special Counsel
Department of the Treasury
Comptroller of the Currency
Chief Counsel's Office, 400 7th Street SW.,
Washington, DC 20219
Phone:202 649-7810
Email: allison.hester-haddad@occ.treas.gov