Comment Text:
Dear Mr. Christopher Kirkpatrick
I have pleasure in attaching a response from the Japan Markets Council (JFMC) to your consultation on Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants (RIN 3038-AC97).
If you have any queries, please do not hesitate to contact me.
Paul Hunter
Head of Secretariat, Japan Financial Markets Council
Secretary General, International Bankers Association of Japan
