CFTC Final Rule on Clearing Exemption for Certain Swaps Entered into by Cooperatives (Fed. Reg.)

The CFTC published final regulations amending Section 4(c) ("Prohibited Transactions") of the CEA in the Federal Register. The final rule allows cooperatives meeting certain conditions to elect not to submit for clearing certain swaps that such cooperatives would otherwise be required to submit for clearing in accordance with Section 2(h)(1) ("Jurisdiction of Commission; Liability of Principal for Act of Agent; Commodity Futures Trading Commission; Transaction in Interstate Commerce") of the CEA.

See: 78 FR 52286.See also: CFTC Issues Final Rule 13-49: Exempting Qualified Cooperatives from Clearing Requirements (August 13, 2013); CFTC Letter 13-47 Exempts from Clearing Certain Swaps Entered Into by Cooperatives (with Lofchie Comment) (July 19, 2013).