Transcript

CFTC’s Market Risk Advisory Committee to Meet September 9 by Teleconference

The U.S. Commodity Futures Trading Commission’s Market Risk Advisory Committee (MRAC) will hold a public meeting on September 9 via teleconference. CFTC Commissioner Rostin Behnam is the sponsor of MRAC. 

At this meeting, the MRAC will receive a status report from the Interest Rate Benchmark Reform Subcommittee and vote on its recommendation regarding plain-English disclosure materials. The MRAC will also discuss other issues involving the transition from the London Inter-bank Offered Rate (LIBOR) to risk-free reference rates, including central counterparty (CCP) adjustments to discounting/price alignment interest and the clearing treatment for certain physically-settled swaptions.

“On September 9th, the MRAC will consider the first recommendation from the Interest Rate Benchmark Reform Subcommittee regarding disclosures included with new derivatives that reference LIBOR and other IBORs.  I appreciate the Subcommittee’s hard work in developing these plain-English disclosures for use by market participants, and commend them for this important contribution to the benchmark reform effort,” said Commissioner Behnam.

A formal agenda for this meeting is forthcoming and can be viewed at CFTC Events.

Members of the public may listen to the meeting by using the domestic toll-free or international toll or toll-free numbers to connect to a live, listen-only audio feed. Lines are limited and available on a first come first serve basis. Persons requiring special accommodations to attend the meeting because of a disability should notify Alicia Lewis at (202) 418–5862.

Conference call information:

Members of the public who wish to submit written statements in connection with the meeting should submit them by September 16, 2019. Written statements should be identified by “Market Risk Advisory Committee,” and submitted by mail or hand delivery to: Christopher Kirkpatrick, Secretary of the Commission, Commodity Futures Trading Commission, Three Lafayette Center, 1155 21st Street NW, Washington, DC 20581, or via the CFTC’s website, https://comments.cftc.gov. Follow the instructions for submitting comments through the Comments Online process on the website.  Any statements submitted in connection with the committee meeting will be made available to the public, including publication on the CFTC website, www.cftc.gov.