The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight issued a no-action letter June 26 identifying 11 data fields that can be excluded when swap counterparties engage in portfolio reconciliation.
Portfolio reconciliation refers to two swaps counterparties exchanging the terms of all swaps in the swap portfolio between the counterparties. They also can exchange each counterparty’s valuation of each swap in the swap portfolio between the counterparties as of the close of business on the immediately preceding business day, or simply resolve any discrepancy in material terms and valuations. According to the staff, the purpose of reconciliation ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.