Comment Text:
Dear sirs or madams,
I noticed that in the final entity definition (1.3(ggg)(4)), what shall be aggregated are the swaps of the person, or any entity controlling, controlled by or under common control with the person, which implies that parent companies, subsidiaries, and sister companies shall all be taken into account.
However, the Proposed Guidance and this further proposal used the term "affiliate under common control" when clarifying which affiliates' swaps should be aggregated. This appears that only the sister companies should be considered. Although you were asking in Q3c if the phrase "under common control" should be further interpreted, I would still like to know at this stage whether the phrase "affiliates under common control" is limited to sister companies, or whether it covers all affiliates as in the entity defintion rule.
Thanks in advance for your clarification in this regard.
Best Regards,
David
