External Meetings: Pension Plans and Plan Sponsors

The meeting covered the following topics.  The definition of Major Swap Participant, the scope of the pension plan exclusion from the substantial position test in that definition, and how the definition relates to systemic risk.  The reporting of swaps to data repositories and entities involved in the clearing process, and how the terms and conditions of such entities may affect swap terms.  The points covered in a letter submitted by the American Benefits Council on September 8, 2010 on independent representatives for special entities.  How the terms of ISDA and other private group protocols affect the terms of swap transactions.  How collateral will be handled by swap clearinghouses.