Meeting Date:
Friday, February 20, 2015
CFTC Staff:
John Lawton, Carlene Kim, Paul Schlichting, Francis Kuo, Stephen Kane, David Aron, Rafael Martinez
Organization(s):
Securities Industry and Financial Markets Association (SIFMA)
External Attendees:
Kyle Brandon (SIFMA)
Anthony Cicia (Morgan Stanley)
Colin Lloyd (Cleary Gottlieb Steen & Hamilton LLP)
Michael Huber (Goldman Sachs)
Greg Todd (Bank of America)
Margaret Gage (Credit Suisse)
Bradley Edgell (SIFMA)
Additional Information:
Participants discussed the proposed margin rule for uncleared swaps. The particular issues were: implementation timeline (VM "big bang"), margin requirement between affiliates, international harmonization (substituted compliance regime) and treatment of collateral (segregation and rehypothecation limitations).
