The Commodity Futures Trading Commission (CFTC) is making changes to ensure swap dealers and major swap participants can continue to reconcile their swap portfolios without disruption. This comes after recent amendments to swap data regulations that would have otherwise impacted the reconciliation process. The CFTC has introduced an interim final rule that involves technical adjustments to maintain the current requirements for these reconciliations, ensuring that swap dealers can keep operating as they have been. The public is invited to comment on these changes until March 8, 2021.
Simple Explanation
Imagine you have a special toy collection, and every so often, you need to make sure all your toys are in the right place. The rule that helps you do this is being updated so everything stays organized like before. Even grown-ups are giving their thoughts until March 2021 to keep things running smoothly!