Federal Banking Regulators Clarify Effective Date for the Swaps “Push-Out” Rule Under Dodd-Frank
On March 30, 2012, the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation jointly issued guidance clarifying that the effective date of Section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”)—known more commonly as the swaps “push-out” rule—is July 16, 2013.