Details

Service: Audit, Tax, Advisory
Industry: Financial Services, Banking & Capital Markets
Type: Publication series, White paper
Date: 8/22/2011

Regulation of the Over-The-Counter Derivatives Market: Key Provisions

The Dodd-Frank Act has more than 16 sections to address the sustainability and transparency of the U.S. financial markets. In section seven, it gives federal regulators authority to oversee the Over-The-Counter derivatives market for the first time. Key provisions of the legislation include clearing, trading, capital, margining, reporting and record-keeping requirements.

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This white paper provides an overview of key derivatives provisions, including:

The authority given to regulators over the OTC market
The impact to swap dealers and swap participants
Derivatives clearing procedures and process changes
Clearing swap requirements
Regulators’ new role in setting capital and margining requirements
The swap push-out provision, which forces banks to move certain swaps to nonbank affiliates
Record and recordkeeping of swaps and real-time price and volume reporting

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