COMMODITY FUTURES TRADING COMMISSION ISSUES PROPOSED RULE: CLEARING REQUIREMENT DETERMINATION UNDER SECTION 2(H) OF THE COMMODITY EXCHANGE ACT FOR INTEREST RATE SWAPS TO ACCOUNT FOR CAD AND MXN INTEREST RATE BENCHMARK TRANSITIONS

WASHINGTON, May 12 -- Commodity Futures Trading Commission has issued a proposed rule called: Clearing Requirement Determination Under Section 2(h) of the Commodity Exchange Act for Interest Rate Swaps to Account for CAD and MXN Interest Rate Benchmark Transitions.

The proposed rule was published in the Federal Register on May 12 by Robert Sidman, Deputy Secretary of the Commission.

Summary: The Commodity Futures Trading Commission (Commission or CFTC) is proposing to amend its interest rate swap clearing requirement regulations adopted under applicable provisions of the Commodity Exchange Act (CEA) to address the transition from the Canadian Dollar Offered Rate (CDOR) to the Canadian Overnight Repo Rate Average (CORRA), and the transitio...