FDIC Board Approves Joint Final Rule on Swap Margin Requirements — 2015-10-22

The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a final rule to establish margin requirements for swaps that are not cleared through a clearinghouse. This action is a joint final rule with the Office of the Comptroller of the Currency, the Federal Reserve Board, the Farm Credit Administration, and the Federal Housing Finance Agency and will apply to entities supervised by these agencies that register with the Commodity Futures Trading Commission (CFTC) or Securities and Exchange Commission (SEC) as a dealer or major participant in swaps. The joint final rule was developed in consultation with the CFTC and the SEC, as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Dodd-Frank Act required the agencies to impose margin requirements to help ensure the safety and soundness of swap dealers in light of the risk to the financial system associated with non-cleared swaps activity.