The Commodity Futures Trading Commission plans to tell banks that they have until Jan. 1 to register as swaps dealers, according to Reuters.
The deadline aims to clear up confusion surrounding the new rules for the swaps market that stem from Dodd-Frank. The rule on registering, which takes effect on Oct. 12, says banks with annual swap dealing totaling $8 billion or more have to register 60 days following the end of the month in which they reach that $8 billion level.
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