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For Immediate Release
November 5, 2018
ABA Media Contact: Jeff Sigmund
(202) 663-5439
Email: jsigmund@aba.com
Follow us on Twitter: @ABABankers

ABA Applauds CFTC Decision to Raise De Minimis Threshold

By Rob Nichols, ABA president and CEO

​“Today’s CFTC vote will ensure smaller banks can continue to provide access to swaps that allow business borrowers to manage their risks in a responsible manner.  Definitively setting the de minimis threshold at $8 billion provides certainty that will avoid pushing smaller institutions out of the swaps market, ensuring they’re able to continue providing access to capital and risk mitigation services to businesses that need it. 
 
“For years, ABA has worked with the CFTC to help ensure the swap dealer registration threshold doesn’t pose significant compliance burdens and costs on banks that pose no systemic risk.  Today’s action will allow those institutions to better serve their customers, and we look forward to working with the CFTC on additional enhancements to the financial markets going forward.”
 
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The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend more than $9 trillion in loans.