Sector Regulation Sector Regulation

US CFTC proposal to exempt central banks from swaps-clearing requirements draws banks’ fire

By Neil Roland
  • 30 Jul 2020 16:40
  • 30 Jul 2020 16:40
The world’s central banks could unwittingly violate US Commodity Futures Trading Commission rules in swaps transactions with dealers unless the CFTC modifies a proposal to codify clearing exemptions for the banks, the Bank for International Settlements said.

The BIS, the Basel-based group of central banks, said the proposed exemption is conditioned on the

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