[Federal Register Volume 76, Number 92 (Thursday, May 12, 2011)]
[Proposed Rules]
[Pages 27621-27622]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-10880]


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COMMODITY FUTURES TRADING COMMISSION

17 CFR Part 23

RIN 3038-AC97


Margin Requirements for Uncleared Swaps for Swap Dealers and 
Major Swap Participants

AGENCY: Commodity Futures Trading Commission.

ACTION: Extension of comment period.

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SUMMARY: On April 28, 2011, the Commodity Futures Trading Commission 
(``Commission'' or ``CFTC'') published in the Federal Register a notice 
of proposed rulemaking that would establish initial and variation 
margin requirements for swap dealers (SDs) and major swap participants 
(MSPs). Elsewhere today in the Federal Register, the Commission is 
proposing to adopt capital, financial reporting, and recordkeeping 
requirements for these same entities, as well as proposing to amend 
certain capital requirements for futures commission merchants (FCMs) 
that also register as SDs or MSPs and supplemental capital 
requirements, and supplemental financial reporting requirements for 
these FCMs. The Commission now is extending the comment period for the 
proposed margin regulations so that the comment period will run 
concurrently with the comment period for the proposed rulemaking on 
capital requirements being published today.

DATES: Comments must be received on or before July 11, 2011.

ADDRESSES: You may submit comments, identified by RIN 3038-AC97, and 
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap 
Participants by any of the following methods:
     Agency Web site, via its Comments Online process at http://comments.cftc.gov. Follow the instructions for submitting comments 
through the Web site.
     Mail: Send to David A. Stawick, Secretary, Commodity 
Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, 
NW., Washington, DC 20581.
     Hand Delivery/Courier: Same as mail above.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
    Please submit your comments using only one method. Additionally, to 
ease the burden to commenters, you may submit comments that address 
both the capital and the margin rulemakings to only one of the 
respective public comment files and they will be considered by the 
Commission in both rulemakings, if appropriate to both.
    All comments must be submitted in English, or if not, accompanied 
by an English translation. Comments will be posted as received to 
http://www.cftc.gov. You should submit only information that you wish 
to make available publicly. If you wish the Commission to consider 
information that may be exempt from disclosure under the Freedom of 
Information Act, a petition for confidential treatment of the exempt 
information may be submitted according to the established procedures in 
Sec.  145.9 of the Commission's regulation, 17 CFR 145.9.
    The Commission reserves the right, but shall have no obligation, to 
review, pre-screen, filter, redact, refuse or remove any or all of your 
submission from http://www.cftc.gov that it may deem to be 
inappropriate for publication, such as obscene language. All 
submissions that have been redacted or removed that contain comments on 
the merits of the rulemaking will be retained in the public comment 
file and will be considered as required under the Administrative 
Procedure Act and other applicable laws, and may be accessible under 
the Freedom of Information Act.

FOR FURTHER INFORMATION CONTACT: John C. Lawton, Deputy Director, 
Thomas Smith, Deputy Director, or Thelma Diaz, Associate Director, 
Division of Clearing and Intermediary Oversight, 1155 21st Street, NW., 
Washington, DC 20581. Telephone number: 202-418-5480 and electronic 
mail: [email protected]; [email protected]; or [email protected].

SUPPLEMENTARY INFORMATION: On April 28, 2011 the Commission published 
in the Federal Register a notice of proposed rulemaking that would 
establish initial and variation margin requirements for swap dealers 
(SDs) and major swap participants (MSPs). Elsewhere today in the 
Federal Register, the Commission is proposing to adopt capital, 
financial reporting, and recordkeeping requirements for SDs and MSPs, 
as well as proposing to amend certain capital requirements for futures 
commission merchants (FCMs) that also register as SDs or MSPs, as well 
as supplemental financial reporting requirements for these FCMs.
    Because the proposed capital and margin rulemakings are 
interrelated, the Commission now is extending the comment period for 
the proposed margin regulations so that the comment periods of each 
proposed rulemaking will run concurrently. The extension period will 
provide commenters with a full opportunity to review each of the 
proposed rulemakings together before commenting on either. As noted 
above, the Commission additionally has determined to give full 
consideration to all comments on each of the proposed rulemakings, 
whether comment letters that address both rulemakings are submitted to 
the comment file of the capital or the margin rulemaking.

    Issued in Washington, DC, this 27th day of April 2010, by the 
Commission.
David A. Stawick,
Secretary of the Commission.

    Note:  The following appendices will not appear in the Code of 
Federal Regulations.


[[Page 27622]]



Appendices to Margin Requirements for Uncleared Swaps for Swap Dealers 
and Major Swap Participants; Extension of Comment Period--Commission 
Voting Summary and Statements of Commissioners

Appendix 1--Commission Voting Summary

    On this matter, Chairman Gensler and Commissioners Dunn, Sommers, 
Chilton and O'Malia voted in the affirmative; no Commissioner voted in 
the negative.

[FR Doc. 2011-10880 Filed 5-11-11; 8:45 am]
BILLING CODE 6351-01-P