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FIA PTG comments further on proposed swap dealer capital requirements

3 March 2020

In a letter submitted to the CFTC today, FIA PTG welcomed the finalization of the capital requirements for Swap Dealers with the following suggested modifications for non-bank Swap Dealers:

  • Remove proprietary cleared derivatives from the eight percent initial margin capital requirement;
  • Lower the eight percent initial margin capital requirement to two percent;
  • Reduce standardized market risk charges for uncleared FX derivatives from 20 percent to six percent;
  • Eliminate the 150 percent capital charge for non-clearing member Swap Dealers; and
  • Allow enough time for new models to be approved.
  • FIA
  • FIA PTG
  • Capital
  • Market Structure
  • Regulation
  • Swaps