SUMMARY:

This final rule permits credit unions to engage in limited derivatives activities for the purpose of mitigating interest rate risk. This rule applies only to Federal credit unions. The final rule addresses permissible derivatives and characteristics, limits on derivatives, operational requirements, counterparty and margining requirements, and the procedures a credit union must follow to apply for derivatives authority.

DATES:

This final rule is effective March 3, 2014.

Federal Register - Vol 79, No. 21 - Friday, January 31, 2014 -Rules and Regulations - Page 5228