CFTC Proposal to Amend Definition of ''Material Terms'' for Purposes of Swap Portfolio Reconciliation (Fed. Reg.)

The CFTC proposal to amend the material terms for which counterparties must resolve discrepancies when engaging in portfolio reconciliation was published in the Federal Register.

The proposed rule generally would codify relief granted previously by CFTC staff in their Letter No. 13-31, subject to certain modifications, and allow firms to exclude certain information reported under CFR Part 45 ("Swap Data Recordkeeping and Reporting Requirements") for purposes of portfolio reconciliations under CFTC Rule 23.502 ("Portfolio Reconciliation").