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FDIC Meeting to Discuss Final Rule to Establish Margin and Capital Requirements for Covered Swap Entities and Interim Final Rule to Exempt Commercial End Users and Small Banks

October 16, 2015

The Federal Deposit Insurance Corporation (“FDIC”) has announced an open session meeting of its Board of Directors to take place at 10:00 AM on Thursday, October 22, 2015. Included among the discussion agenda items to be discussed and perhaps voted upon at this meeting is a memorandum and resolution re: Notice of Final Rulemaking to Establish Margin and Capital Requirements for Covered Swap Entities and Interim Final Rule to Exempt Commercial End Users and Small Banks.

Last summer the FDIC along with the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Farm Credit Administration and the Federal Housing Finance Agency (along with companion regulation put forth by the Commodity Futures Trading Commission) re-proposed Margin and Capital Requirements for Covered Swap Entities. These re-proposed rules could impact certain securitization SPVs that enter into interest rate, currency and other swaps with Covered Swap Entities by requiring that initial and/or variation margin be posted in connection with entering into such swaps.

The meeting will be Webcast live. Interested parties can register to participate via Webcast on the FDIC’s website.

To view the full agenda for this meeting, please click here.