7 U.S.C. § 6r
Each swap that is not accepted for clearing by any derivatives clearing organization shall be reported to-
Each swap entered into before July 21, 2010, the terms of which have not expired as of July 21, 2010, shall be reported to a registered swap data repository or the Commission by a date that is not later than-
The Commission shall promulgate an interim final rule within 90 days of July 21, 2010, providing for the reporting of each swap entered into before July 21, 2010.
The reporting provisions described in this section shall be effective upon the enactment of this section.
With respect to a swap in which only 1 counterparty is a swap dealer or major swap participant, the swap dealer or major swap participant shall report the swap as required under paragraphs (1) and (2).
With respect to a swap in which 1 counterparty is a swap dealer and the other a major swap participant, the swap dealer shall report the swap as required under paragraphs (1) and (2).
With respect to any other swap not described in subparagraph (A) or (B), the counterparties to the swap shall select a counterparty to report the swap as required under paragraphs (1) and (2).
Any individual or entity that enters into a swap shall meet each requirement described in subsection (c) if the individual or entity did not-
An individual or entity described in subsection (b) shall-
In prescribing rules under this section, the Commission shall require individuals and entities described in subsection (b) to submit to the Commission a report that contains data that is not less comprehensive than the data required to be collected by swap data repositories under section 24a of this title.
7 U.S.C. § 6r
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATESection effective on the later of 360 days after July 21, 2010, or, to the extent a provision of subtitle A (§§711-754) of title VII of Pub. L. 111-203 requires a rulemaking, not less than 60 days after publication of the final rule or regulation implementing such provision of subtitle A, see section 754 of Pub. L. 111-203 set out as an Effective Date of 2010 Amendment note under section 1a of this title.
- Commission
- The term "Commission" means the Commodity Futures Trading Commission established under section 2(a)(2) of this title.
- prudential regulator
- The term "prudential regulator" means-(A) the Board in the case of a swap dealer, major swap participant, security-based swap dealer, or major security-based swap participant that is-(i) a State-chartered bank that is a member of the Federal Reserve System;(ii) a State-chartered branch or agency of a foreign bank;(iii) any foreign bank which does not operate an insured branch;(iv) any organization operating under section 25A of the Federal Reserve Act [ 12 U.S.C. 611 et seq.] or having an agreement with the Board under section 225 of the Federal Reserve Act 4;(v) any bank holding company (as defined in section 2 of the Bank Holding Company Act of 1965 4 ( 12 U.S.C. 1841 )), any foreign bank (as defined in section 3101(7) of title 12) that is treated as a bank holding company under section 3106(a) of title 12, and any subsidiary of such a company or foreign bank (other than a subsidiary that is described in subparagraph (A) or (B) or that is required to be registered with the Commission as a swap dealer or major swap participant under this chapter or with the Securities and Exchange Commission as a security-based swap dealer or major security-based swap participant);(vi) after the transfer date (as defined in section 311 of the Dodd-Frank Wall Street Reform and Consumer Protection Act [ 12 U.S.C. 5411 ]), any savings and loan holding company (as defined in section 1467a of title 12) and any subsidiary of such company (other than a subsidiary that is described in subparagraph (A) or (B) or that is required to be registered as a swap dealer or major swap participant with the Commission under this chapter or with the Securities and Exchange Commission as a security-based swap dealer or major security-based swap participant); or(vii) any organization operating under section 25A of the Federal Reserve Act ( 12 U.S.C. 611 et seq.) or having an agreement with the Board under section 25 of the Federal Reserve Act ( 12 U.S.C. 601 et seq.);(B) the Office of the Comptroller of the Currency in the case of a swap dealer, major swap participant, security-based swap dealer, or major security-based swap participant that is-(i) a national bank;(ii) a federally chartered branch or agency of a foreign bank; or(iii) any Federal savings association;(C) the Federal Deposit Insurance Corporation in the case of a swap dealer, major swap participant, security-based swap dealer, or major security-based swap participant that is-(i) a State-chartered bank that is not a member of the Federal Reserve System; or(ii) any State savings association;(D) the Farm Credit Administration, in the case of a swap dealer, major swap participant, security-based swap dealer, or major security-based swap participant that is an institution chartered under the Farm Credit Act of 1971 ( 12 U.S.C. 2001 et seq.); and(E) the Federal Housing Finance Agency in the case of a swap dealer, major swap participant, security-based swap dealer, or major security-based swap participant that is a regulated entity (as such term is defined in section 4502 of title 12).
- swap data repository
- The term "swap data repository" means any person that collects and maintains information or records with respect to transactions or positions in, or the terms and conditions of, swaps entered into by third parties for the purpose of providing a centralized recordkeeping facility for swaps.