Sec. 356. Capital requirements for non-bank swap dealers
298 words·~1 min read·
/bill/113/hr/4413/eh/section-356A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 4s(e) of the Commodity Exchange Act ( 7 U.S.C. 6s(e) ) is amended— in paragraph (2)(B), by striking shall and inserting the following: and the Securities and Exchange Commission, in consultation with the prudential regulators, shall jointly ; and in paragraph (3)(D)— in clause (ii), by striking shall, to the maximum extent practicable, and inserting shall ; and by adding at the end the following: To the extent that swap dealers and major swap participants that are banks are permitted to use financial models approved by the prudential regulators or the Securities and Exchange Commission to calculate minimum capital requirements and minimum initial and variation margin requirements, including the use of non-cash collateral, the Commission shall, in consultation with the prudential regulators and the Securities and Exchange Commission, permit the use of comparable financial models by swap dealers and major swap participants that are not banks. .
Section 15F(e) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78o–10(e) ) is amended— in paragraph (2)(B), by striking shall and inserting the following: and the Commodity Futures Trading Commission, in consultation with the prudential regulators, shall jointly ; and in paragraph (3)(D)— in clause (ii), by striking shall, to the maximum extent practicable, and inserting shall ; and by adding at the end the following: To the extent that security-based swap dealers and major security-based swap participants that are banks are permitted to use financial models approved by the prudential regulators or the Commodity Futures Trading Commission to calculate minimum capital requirements and minimum initial and variation margin requirements, including the use of non-cash collateral, the Commission shall, in consultation with the Commodity Futures Trading Commission, permit the use of comparable financial models by security-based swap dealers and major security-based swap participants that are not banks. .
Connectionstraces to 1
Traces to 1 document
1 reference not yet in our index
- 15 USC 78o–10(e)
Citation graph
cites case law
Cites 2Cited by 0 across 0 sources