CFTC Provides Additional LIBOR Transition Relief to DCOs
Swaps dealerships were handed extra relief by the CFTC previously in September amidst the shift from the Libor and other interbank recommendation rates to alternative standards. The relief covers requirements relevant to switch dealerships, the trade execution requirement and necessary clearing.Letter No. 19-26 offers relief for particular swaps performed as part of the LCH Limited marking down shift auction on October 16, 2020. Even More, Letter No. 20-33 offers relief for particular swaps performed as part of the CME Inc. marking down shift auction on October 19, 2020.
