SEC Grants Treasury Clearing Exemption for Certain Inter‑Affiliate and Non‑U.S. Repo Trades
Current overview (not historical)
The U.S. Securities and Exchange Commission (SEC) has issued an exemption that waives Treasury clearing requirements for specific inter‑affiliate and non‑U.S. repo transactions. The relief excludes repos involving non‑U.S. counterparties and transactions between Treasury clearing houses and non‑investment‑company affiliates, thereby allowing market participants to avoid the usual clearing obligations for these deals. The exemption is intended to give firms additional time to comply with regulatory changes while maintaining market liquidity. Participants can seek guidance on compliance by contacting the SEC via email or phone. This measure reflects the SEC’s effort to balance regulatory enforcement with practical market considerations, though it does not alter the underlying rules for U.S.‑based counterparties or standard Treasury clearing operations.
Written with AI from the reporting · updated 10/30/2026
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- 1Unclassified fact stationOct 31, 03:57single sourcereport-time onlyrevised
SEC 发布豁免交易商和非美仓库交易的国债清算要求
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- Oct 31, 03:30
- First seen (known side)：
- Oct 31, 03:57
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- U.S. SEC · Press ReleasesFirst-party sourceRelated fact: single sourceFact occurrence time unverifiedSource report revisedSEC Grants Exemptions from Treasury Clearing Rules for Certain Inter‑Affiliate and Non‑U.S. Repo Transactions
Report first recorded Oct 31, 03:57
The Securities and Exchange Commission extended compliance deadlines and issued exemptive relief for specific repo transactions that do not meet the Treasury clearing rules. The relief excludes from the definition of eligible secondary‑market Treasury transactions: (1) repo transactions involving non‑U.S. counterparties, subject to specified limits and conditions; and (2) repo transactions between a direct participant of a U.S. Treasury securities clearing agency and any affiliated entity that is not an investment company under the Investment Company Act of 1940, provided the affiliate otherwise qualifies as an affiliated counterparty under Rule 17ad‑22(a). The decision follows the SEC’s December 2023 adoption of the Treasury clearing rules and a public‑comment period that highlighted implementation challenges. Market participants may contact SEC staff at [email protected] or 202‑551‑5777 for questions. The relief aims to give participants additional time to address compliance, operational, and interpretive issues while maintaining the benefits of central clearing.
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