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Agencies Issue Final Rule on Margin, Capital Requirements for Covered Swap Entities
October 10, 2018
On Wednesday, October 10, 2018, the OCC, the Board of Governors of the Federal Reserve, the FDIC, the Farm Credit Administration, and the Federal Housing Finance Agency (collectively, the agencies) issued a bulletin regarding a final rule in the Federal Register to amend their regulations regarding the minimum margin and capital requirements for registered swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants. This rule is known as the Swap Margin Rule. The OCC’s Swap Margin Rule applies to certain national banks, federal savings associations, and federal branches and agencies of foreign banking organizations (collectively, banks).