Attached for filing please find comments of the American Gas Association in response to the notice reopening the comment period issued by the Office of the Comptroller of the Currency, U.S. Department of the Treasury, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the Federal Housing Financy Agency published in the Federal Register on October 2, 2012, 77 Fed. Reg. 60,057.
Margin and Capital Requirements for Covered Swap Entities
Activity
American Gas Association filed 2 comments on this docket between Jul 13, 2011 and Nov 28, 2012. 6 other organizations filed here. The comment window closed 4264d ago.
What American Gas Association filed (2)
The American Gas Association respectfully submits the attached comments for your consideration in response to Notice of Proposed Rulemaking of the Office of the Comptoller of the Currency, U.S. Department of the Treasury and other Prudential Regulators on Margin and Capital Requirements for Covered Swap Entities, Docket No. OCC-2011-0008. If you have any questions regarding this filing, please contact me. Thank you for your consideration. Andrew K. Soto American Gas Association 400 N. Capitol Street, NW Washington, DC 20001 202.824.7215 asoto@aga.org
Abstract
The OCC, Board, FDIC, FCA, and FHFA (each an "Agency'' and, collectively, the "Agencies'') are seeking comment on a proposed joint rule to establish minimum margin and capital requirements for registered swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants for which one of the Agencies is the prudential regulator. This proposed rule implements sections 731 and 764 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which require the Agencies to adopt rules jointly to establish capital requirements and initial and variation margin requirements for such entities and their counterparties on all non-cleared swaps and non-cleared security-based swaps in order to offset the greater risk to such entities and the financial system arising from the use of swaps and security-based swaps that are not cleared.
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