The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight today issued a time-limited no-action letter that provides relief to each of the five Canadian banks that are registered with the CFTC as swap dealers. The five Canadian banks covered by the no-action letter are: the Bank of Montreal, the Bank of Nova Scotia, the Canadian Imperial Bank of Commerce, the Royal Bank of Canada, and the Toronto Dominion Bank.
More information via press release: http://www.cftc.gov/PressRoom/PressReleases/pr6939-14
