Data / Federal rules / 2026-18212
Clearing Requirement Determination Under Section 2(h) of the Commodity Exchange Act for Interest Rate Swaps To Account for CAD and MXN Interest Rate Benchmark Transitions
The Commodity Futures Trading Commission published this final rule in the Federal Register on September 8, 2026. It took effect on October 8, 2026.
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What the agency says
The Commodity Futures Trading Commission (Commission or CFTC) is amending its interest rate swap clearing requirement regulations under applicable provisions of the Commodity Exchange Act (CEA) to address the transition from the Canadian Dollar Offered Rate (CDOR) to the Canadian Overnight Repo Rate Average (CORRA), and the transition from the Mexican Interbank Equilibrium Interest Rate (la Tasa de Inter[eacute]s Interbancaria de Equilibrio, or TIIE by its Spanish acronym) to the TIIE Funding Rate (TIIE de Fondeo or F-TIIE), as benchmark reference rates for interest rate swaps denominated, respectively, in Canadian dollars (CAD) and Mexican pesos (MXN). These transitions are part of an ongoing global effort by market participants, benchmark administrators, regulators, and others to shift away from reliance on certain interbank offered rates (IBORs) that have become unavailable as benchmark reference rates and adopt alternative reference rates, which are predominantly overnight, nearly risk-free reference rates (RFRs). These amendments revise the set of interest rate swaps that are required to be submitted for clearing, pursuant to the CEA and the Commission's regulations, to a derivatives clearing organization (DCO) that is registered under the CEA (registered DCO) or a DCO that has been exempted from such registration (exempt DCO). The amendments modify the Commission's interest rate swap clearing requirement to reflect the market transitions from swaps referencing CAD CDOR and MXN TIIE to swaps referencing, respectively, CAD CORRA and MXN F-TIIE.
Key facts
- Document number
- 2026-18212
- Type
- Final rule
- Action
- Final rule
- Agency
- Commodity Futures Trading Commission
- Published
- September 8, 2026
- Takes effect
- October 8, 2026
- Dates
- The amended rules are effective October 8, 2026.
- Regulation ID (RIN)
- 3038-AF69
- Code of Federal Regulations
- 17 CFR 50
- Topics
- Business and industry; Swaps
- Pages
- 26
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| Form PF; Reporting Requirements for All Filers and Large Hedge Fund Advisers; Further Extension of Compliance Date 2026-18104 | Final rule | Sep 3 |
| Swap Execution Facility Order Book Requirement for Permitted Transactions 2026-17416 | Proposed rule | Aug 26 |
| Request for Comment on the Listing of Compute Derivatives Contracts 2026-17163 | Proposed rule | Aug 21 |
Everything from the Commodity Futures Trading Commission · Rules on business and industry · Rules on swaps · Published in September 2026
Read from the Federal Register API, last updated 2026-10-24. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.