Effective date for swap margin rules amendments
Five federal agencies (the Fed, FDIC, FHFA, OCC, and the Farm Credit Administration) have approved final amendments to swap margin requirements to conform with recent rule changes that impose new restrictions on certain qualified financial contracts of systemically important banking organizations (QFC Rules). Under the amendments, which will become effective 30 days after Federal Register publication, legacy swaps entered into before the applicable compliance date will not become subject to the margin requirements if they are amended solely to comply with the requirements of the QFC Rules.
UPDATE: Published on 10/10/2018, with an effective date of 11/9/18.
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