Meeting Date:
Tuesday, April 14, 2015
CFTC Staff:
David Aron, Stephen Kane
Organization(s):
State Street, The Bank of New York Mellon, Northern Trust
External Attendees:
Joe Barry (State Street)
Simon Zornoza (State Street)
Ben Ossoff (State Street)
Eli Peterson (The Bank of New York Mellon)
Kelly Dibble (Northern Trust)
Tamela Merriweather (Northern Trust)
Jennifer Lynn Roman (Northern Trust)
Ryan Phillip Hayden (Northern Trust)
Victoria Bedford (Northern Trust)
Federal Reserve Board of Governors (FRB)
Farm Credit Administration (FCA)
Office of the Comptroller of the Currency (OCC)
Federal Deposit Insurance Corporation (FDIC)
Federal Housing Finance Agency (FHFA)
Additional Information:
Commenters discussed their concerns with proposed requirement to segregate collateral from margin on uncleared swaps. More specifically, they requested clarification about how restrictions on the rehypothecation and reuse of collateral would affect the treatment of cash collateral that is deposited at custodian banks.
Conference call was joint with staff of Prudential Regulators.
