No less than each fiscal quarter, a swap execution facility shall compute the current market value of each financial resource used to meet its obligations under §§ 37.1301 and 37.1303. Reductions in value to reflect market and credit risk (“haircuts”) shall be applied as appropriate.
authority: 7 U.S.C. 1a,
2,
5,
6,
6c,
7,
7a-2,
7b-3,
and,
as,
Pub. L. 111-203, 124 Stat. 1376
source: 78 FR 33582, June 4, 2013, unless otherwise noted.
cite as: 17 CFR 37.1305