Transition Period under Section 716 of the Dodd–Frank Wall S

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Transition Period under Section 716 of the Dodd–Frank Wall Street Reform and Consumer Protection Act

WASHINGTON — The Office of the Comptroller of the Currency (OCC) today provided guidance regarding requests for a transition period pursuant to section 716(f) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

In the guidance, the OCC notifies insured federal depository institutions that are or may become swap dealers that the OCC is prepared to consider requests for a transition period pursuant to section 716(f) of the Dodd-Frank Act, provided that such requests conform to the procedures and conditions established in the notice. The guidance has been submitted to the Federal Register for publication and is effective immediately. Written requests for transition periods should be submitted to the OCC by January 31, 2013.
http://occ.gov/news-issuances/news-releases/2013/nr-occ-2013-2a.pdf