CFTC extends no-action relief for reporting of Asian counterparties

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A potential conflict for US banks operating in Asia has been avoided, with the US Commodity Futures Trading Commission (CFTC) extending a temporary exemption order allowing US-regulated swap dealers to report an over-the-counter derivative trade executed in another country with a non-US person without the need to report the counterparty's details, subject to the meeting of certain conditions.

Had this exemption not been extended, there was a fear US banks trading OTC derivatives with some Asian

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