As part of this rulemaking process, the Commission sought input from overseas counterparts to ensure a coordinated approach to required clearing of interest rate swaps during the move from use of swaps referencing IBORs to swaps referencing RFRs and shared information regarding this final rulemaking with international counterparts.53C. This type of dialogue reflects an effort to ensure consistency in interest rate swap clearing requirements across jurisdictions.The discussion below sets forth relevant updates and coordination efforts among international authorities. The Commission has therefore monitored global advisory, legislative, and regulatory proposals, and has consulted with foreign regulators in developing the final regulations.”).In particular, as part of the ongoing regulatory dialogue among authorities, Commission staff consulted with counterparts, including those at Australian Securities and Investments Commission (ASIC), Bank of England, ESMA, Hong Kong Securities and Futures Commission (HKSFC),52 Japanese Financial Services Agency (JFSA), Monetary Authority of Singapore (MAS), and Swiss Financial Market Supervisory Authority (FINMA). Mrs Smith's Bakeries, LLC Relevant Sub-clause of Section 3.2(a) of Pledge and Amount Maturity Date Obligor Security Agreement NONE.Į.g Second Determination, 81 FR at 71223 (noting that “the interest rate swaps market is global and market participants are interconnected”) First Determination, 77 FR at 74287 (“The Commission is mindful of the benefits of harmonizing its regulatory framework with that of its counterparts in foreign countries. Related to Wong LS, Yong BH, Young KK, Lau LS, Cheng KL, Run JS, Irwin MG
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