§50.79. Swaps entered into by savings and loan holding companies.
17 C.F.R. § 50.79
For purposes of this section, the term savings and loan holding company means an entity that is organized as a savings and loan holding company, as defined in section 10 of the Home Owners' Loan Act of 1933.
A swap entered into by a savings and loan holding company shall not be subject to the clearing requirement of section 2(h)(1)(A) of the Act and this part if:
The savings and loan holding company has aggregated assets, including the assets of all of its subsidiaries, that do not exceed $10,000,000,000 according to the value of assets of each subsidiary on the last day of each subsidiary's most recent fiscal year;
One of the counterparties to the swap reports the swap to a swap data repository pursuant to §§ 45.3 and 45.4 of this chapter, and reports all information as provided in paragraph (b) of § 50.50 to a swap data repository; and
The swap is used to hedge or mitigate commercial risk as provided in paragraph (c) of § 50.50.
Notes, amendments, and revision history
Source
Source: 85 FR 76448, Nov. 30, 2020, unless otherwise noted.
Authority
Authority: 7 U.S.C. 2(h), 6(c), and 7a-1, as amended by Pub. L. 111-203, 124 Stat. 1376.
Source
Source: 77 FR 44455, July 30, 2012, unless otherwise noted.