SIFMA released a happy statement from president Kenneth E. Bentsen, Jr., after the Office of the Comptroller of the Currency ("OCC") informed financial institutions active in derivatives markets that it has extended the effective date of the so-called swap push-out rule's effective date by two years. See: Statement. See also: (The rule that was the subject of the statement) FRB Provides Lincoln (Push Out) Relief to U.S. Branches of Non-U.S. Banks (Regulation KK) (with Cammarn Comment).

AIMA CEO Andrew Baker will step down at the end of the year. Mr. Baker has been CEO since the beginning of 2009, having been Deputy CEO previously since 2007. See: Press Release.

The CFTC held external meetings regarding cross-border issues. Meetings: Institute of International Bankers ("IIB") and BBVA Compass.

The Federal Deposit Insurance Corporation announced the signing of a memorandum of understanding ("MOU") with the Canada Deposit Insurance Corporation ("CDIC") which formalizes and strengthens cross-border cooperation in the event of the failure of a large, complex financial institution operating in both countries. The MOU was signed Tuesday evening in Ottawa by CDIC President and CEO MichÉle Bourque and FDIC Chairman Martin J. Gruenberg. See: Bilateral Resolution Memorandum of Understanding with the Canada Deposit Insurance Corporation.

CFTC Commissioner Scott D. O'Malia gave the keynote address before the OpRisk European Conference. He focused on three topics. The first topic was cross-border regulatory issues and his reasoning for seeking an extension of the July 12, 2013 deadline for the implementation of cross-border application. The second was the CFTC's adoption of rules governing swap execution facilities ("SEFs") and related trade execution rules, particularly the oddly-named "Made Available to Trade Rule." "Made Available to Trade" really means "must be traded on a SEF." Commissioner O'Malia argued that the CFTC