Banks will get extra time to comment on proposed requirements for swap dealers mandated by the Dodd-Frank Act.
Regulators drafting the rule — including the Federal Reserve Board, the Farm Credit Administration, the Federal Deposit Insurance Corp., the Federal Housing Finance Agency and the Office of the Comptroller of the Currency — have extended the comment period to July 11. Originally, commenters had until Friday.
Under the proposal, which was announced in April, banks that are swap participants could use either standard "lookup" tables, or their own internal models, to decide how much margin to collect from end users. Deals involving nonfinancial end users would be subject to lighter margin requirements.
"The comment period was extended to July 11, 2011, to allow interested persons more time to analyze the issues and prepare their comments," the regulators said.
