June 14, 2011 – BankNews Media is pleased to announce the addition of Meghan Patke to its team as advertising sales coordinator. In this capacity, she will be responsible for supporting advertising sales in all of the company’s publications, including the state banking magazines and bank directories.
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June 7 – In a recent bulletin, the Office of the Comptroller of the Currency reminded management of national banks, federal savings associations, and federal branches and agencies of foreign banks to be aware of U.S. Commodity Futures Trading Commission swap clearing rules. Section 2(h) of the Commodity Exchange Act, as added by section 723 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, establishes a clearing requirement for swaps.1 This new section makes it unlawful for any person (including financial institutions) to engage in a swap that the CFTC has determined requires clearing unless the person submits the swap for clearing to a derivatives clearing organization or an exception applies.