Portfolio reconciliation

Portfolio reconciliation means any process by which the two parties to one or more swaps:
(1) Exchange the material terms of all swaps in the swap portfolio between the counterparties;
(2) Exchange each counterparty's valuation of each swap in the swap portfolio between the counterparties as of the close of business on the immediately preceding business day; and
(3) Resolve any discrepancy in material terms and valuations.

Source

17 CFR § 23.500

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Scoping language

For purposes of this subpart I, the following terms shall be defined as provided.

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