Global Correspondence

GFMA FX Division Submits Comments to US Prudential Regulators and CFTC on a Request for Postponement of Margin Requirements for Uncleared Swaps for Phase 1 Covered Swap Entities

GFMA provided comments to regulators
on a request for postponement of margin requirements for uncleared swaps for
phase 1 covered swap entities. Individuals from the CFTC, Office of the
Comptroller of the Currency, Federal Deposit Insurance Corporation, Federal
Reserve System, Federal Housing Finance Agency and Farm Credit Administration
Board all received this letter.

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