The Commodity Futures Trading Commission (CFTC) Friday extended by two months the deadline for comments on initial and variation margin requirements for uncleared swaps. The comment period was to close on July 11, but it has been extended until to Sept. 14.
The Commission said it decided to reopen the comment period so that parties could comment on the CFTC’s proposed margin rules in the context of proposals discussed in a consultative paper that was released Friday by the Basel Committee on Banking Supervision and the International Organization of Securities Committee (IOSCO).
The paper, which addressed the international effort to harmonize margin requirements for uncleared swaps, is available on the Bank for International Settlements website (www.bis.org) and the IOSCO website (www.iosco.org).
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