Global Correspondence
GFMA Submits Comments to the US Department of Treasury on Foreign Exchange Swaps and Forwards under the Commodity Exchange Act
The Global Foreign Exchange Division (GFXD) of GFMA provides comments to the U.S. Department of Treasury (Treasury) on Treasury’s determination (Proposed Determination) to exempt foreign exchange swaps and forwards from the definition of a “swap” under the Commodity Exchange Act (the CEA) pursuant to the authority granted to the Secretary of Treasury under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the Dodd-Frank Act). The GFXD offers its observations in support of the Proposed Determination.
