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Swaps Dealer Threshold Set

Regulators say firms with more than $8 bln in annual business face additional oversight.

By Steven Sloan and Jesse Hamilton, Bloomberg | Updated on April 18, 2012

U.S. regulators voted today to define which companies will face new oversight in the $708 trillion global swaps market, where largely unregulated trades helped fuel the 2008 financial crisis.

A rule approved unanimously by the Securities and Exchange Commission today and awaiting a Commodity Futures Trading Commission vote will initially define a regulated dealer as one that conducts swaps with a notional value of at least $8 billion in a 12-month period. The banks, hedge funds and energy firms defined as swap dealers will be subject to the highest capital and collateral requirements for market participants.

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