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External Meetings: Meeting with the Coalition of Derivatives End-users
  
    



  Commissioner Chilton met with some representatives of the Coalition of Derivatives End-users (hereafter “The Coalition”).  The conversation centered around three main issues: (1) Inter-Affiliate Swaps and Reporting Issues (inter-affiliate swap reporting, timing); (2) Margin; and (3) Cross Border issues.~~~As for the Inter-Affiliate Swaps and Reporting Issues, the Coalition reemphasized issues they had formally raised in their Comment Letter.  Specifically, the Coalition reemphasized its position that placing stringent regulations, including reporting requirements, on affiliate-to-affiliate exchanges significantly burden the end-users, who were not the main focus of Dodd-Frank.  The Commissioner noted that he was aware of their concerns.  The Commissioner also noted that he could not discuss the issue in any detail given that the Commission is in the post-comment period.  ~~~As for the discussion on Margins, the coalition reemphasized issues they had formally raised in their Comment Letter.  Specifically, they supported the CFTC’s proposal to not require margin for end-user swaps, but were concerned that prudential regulators in the U.S. and elsewhere may press to require margin for all uncleared swaps.  The Commissioner noted their concerns and emphasized that, because the Commission is in a post-comment period, he could not speak on the issue.~~~As for Cross Border issues, the Coalition emphasized that the end-users expressed frustration that the recent Commission releases on ~Cross-Border issues did not seem to contemplate end-users.”
      
  When
              02/07/2013

  Rulemaking(s)
              XI. End-user ExceptionCross-BorderGeneral

  CFTC Staff
              Bart ChiltonClay PedersonSalman Banaei Omid Harraf

  Visitor(s)
              J.T. Young, FordErin Rohde, FordDave Webb, FordStacey Bernards, HoneywellCarolyn Lee, National Association of ManufacturersChristina Crooks, Financial Executives InternationalKirk Freeman, National Association of Real Estate Investment TrustsPenny Rostow, National Association of Real Estate Investment TrustsPam Brown, Chatham FinancialMatthew Hoffman, Chatham FinancialJoshua Raymond, General ElectricJess Sharp, U.S. Chamber of CommerceMichael Bopp, Gibson DunnJeff Steiner, Gibson DunnDon Green, Business RoundtableKrister Holladay, United Technologies Corp.

  Organization(s)
              FordHoneywellNational Association of ManufacturersFinancial Executives InternationalNational Association of Real Estate Investment TrustsChatham FinancialGeneral ElectricU.S. Chamber of CommerceGibson DunnBusiness RoundtableUnited Technologies Corp.


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