The Division of Clearing and Risk (DCR) of the Commodity Futures Trading Commission (Commission) today announced the issuance of a time-limited, no-action letter granting relief to banks, savings associations, farm credit system institutions, and credit unions having assets of less than $10 billion (Small Banks), which are issuers of securities, from the board approval requirements of section 2(j) of the Commodity Exchange Act (CEA) and Commission regulation 50.50, subject to certain conditions.
More information via press release: http://www.cftc.gov/PressRoom/PressReleases/pr6606-13
