2011-10880

Federal Register, Volume 76 Issue 92 (Thursday, May 12, 2011)[Federal Register Volume 76, Number 92 (Thursday, May 12, 2011)]

[Proposed Rules]

[Pages 27621-27622]

From the Federal Register Online via the Government Printing 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: jlawton@cftc.gov; tsmith@cftc.gov; or tdiaz@cftc.gov.

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

Last Updated: May 12, 2011