Proposed Rules for End-User Exception to Clearing of Swaps

On December 28, 2010, Cravath issued to its clients a memo entitled “Proposed Rules for End-User Exception to Clearing of Swaps.” Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act provides for new Federal regulation of the swaps market. This memo summarizes the rules recently proposed by the Commodity Futures Trading Commission and the Securities and Exchange Commission governing the application of the end-user exception to mandatory clearing of swaps.

Please click here to read the memo.