Meeting Date:
Tuesday, May 12, 2015
CFTC Staff:
Paul Schlichting, Stephen Kane, David Aron, Francis Kuo, Rafael Martinez
Organization(s):
none, individual citizens
External Attendees:
William Harrington (individual), Richard Michalek (RJM Consulting)
Federal Reserve Board of Governors (FRB)
Office of Comptroller of the Currency (OCC)
Federal Deposit Insurance Corporation (FDIC)
Federal Housing Finance Agency (FHFA)
Farm Credit Administration (FCA)
Additional Information:
Commenters argue against an exemption from margin requirements for issuers of asset backed securities. Commenters believe ABS issuers' current practice for dealing with counterparty credit risk is inadequate by construction and presents a systemic risk. See attached presentation.
Conference call was joint with staff of Prudential Regulators.
