Meeting Date:
Wednesday, September 21, 2011
CFTC Staff:
John Lawton
Tom Smith
Thelma Diaz
Organization(s):
Principal Life Insurance Company (Principal)
External Attendees:
Julia Lawler (Principal)
Brayton Li (Principal)
Debra Epp (Principal)
R. Lucia Riddle (Principal)
Additional Information:
Representatives of life insurance company discussed issues raised in the August 16, 2011 comment letter from Principal Life Insurance Company, especially in support of expanding the types of collateral acceptable for variation margin (VM). Under the proposed rule for uncleared swaps, VM is limited to cash and treasuries, and the representatives from Principal support including high quality, readily marketable securities as VM, as is current practice today for OTC derivatives.
