The rules if adopted will replace a no-action relief letter issued in June 2013
The US Commodity
Futures Trading Commission (CFTC) proposed on Tuesday changes
to the Dodd-Frank portfolio reconciliation requirements to
exclude a number of data fields and simplify the rules for
The proposed rules
amend the definition of "material terms" for purposes of swap
portfolio reconciliation to exclude certain data
Under Dodd-Frank swap
dealers and major swap participants are required to engage in
portfolio reconciliation once a day, week or quarter, depending
on the size of the swap portfolio, and must resolve any
discrepancy of material terms, or the key economic terms of a
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