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Federal agencies reopen comment period on Dodd-Frank

The Farm Credit Administration joined four other federal agencies today to reopen the comment period for a portion of the proposed Dodd-Frank rule.

The rule, published in the Federal Register on May 11, 2011, would establish minimum margin and capital requirements for uncleared swaps and security-based swaps entered into by swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants for which one of the agencies is the prudential regulator.

The agencies said that reopening the comment period that expired on July 11, 2011 will allow interested persons more time to analyze and comment on the proposed margin rule in light of the consultative document on margin requirements for non-centrally-cleared derivatives recently published for comment by the Basel Committee on Banking Supervision and the International Organization of Securities Commissions.

The comments are due by November 26.

The other agencies are the Comptroller of the Currency, the Federal Reserve System, the Federal Deposit Insurance Corporation and the Federal Housing Finance Agency.