CFTC Requirement: Federal Entity Indicator

The amended CFTC Swap Data Reporting Rules require reporting of Federal Entity Indicator (#23 Counterparty 1/ #24 Counterparty 2). The ISDA Data & Reporting U.S. Compliance industry working group formed two alternatives of standardized language that may be used for any outreach. Reporting parties can elect to use either the CFTC Federal Entity Indicator – Negative Affirmation or Federal Entity Indicator – Affirmative Election provided at their discretion.

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Addressing Termination Troubles

When Enron announced a shock $618 million loss on October 16, 2001, it took a further 47 days until it filed for bankruptcy. For Bear Stearns, it took 266 days between its bailout of a structured credit fund run by...