Certain Affiliate Financial Entity Transactions Exempted from Mandatory Clearing by CFTC | Practical Law
The CFTC issued a no-action letter exempting from mandatory Dodd-Frank swap clearing requirements swaps entered into by certain financial entities (known as "treasury affiliates") that would otherwise be subject to clearing but need not be cleared because the financial entity is entering into the swap on behalf of a non-financial affiliate hedging commercial risk.