Proposed rule to amend swap margin rules

The Fed, FDIC, OCC, FHFA, and Farm Credit Administration have announced a proposal to change the swap margin rules to facilitate the implementation of prudent risk management strategies at certain banks and swap entities. The swap margin rule would no longer require swap entities to hold initial margin for uncleared swaps with affiliates. However, inter-affiliate transactions would still be subject to variation margin requirements. Swap entities regulated by the FDIC, the OCC, and the Fed also would be subject to requirements under sections 23A and 23B of the Federal Reserve Act. Comments will be accepted for 30 days following publication.
UPDATE: Published 11/7/2019 with comments due in 32 days, or by 12/9/2019.