Foreign exchange rate contracts

Foreign exchange rate contracts -
(1) Means cross-currency interest rate swaps, forward foreign exchange contracts, currency options purchased (including currency options purchased over-the-counter), and any other instrument that gives rise to similar credit risks; and
(2) Does not mean foreign exchange rate contracts with an original maturity of 14 calendar days or less and foreign exchange rate contracts traded on exchanges that require daily payment of variation margins.


12 CFR § 1750.2

Scoping language

For purposes of this subpart A, the following definitions shall apply:

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