{"data":{"id":"us/17-cfr-50.53","jurisdiction":"us","citation":"17 CFR 50.53","heading":"Banks, savings associations, farm credit system institutions, and credit unions exempt from the clearing requirement.","body":"For purposes of section 2(h)(7)(A) of the Act, a person that is a “financial entity” solely because of section 2(h)(7)(C)(i)(VIII) shall be exempt from the definition of “financial entity” and is eligible to elect the exception to the clearing requirement under § 50.50, if such person:\n(a) Is organized as a bank, as defined in section 3(a) of the Federal Deposit Insurance Act, the deposits of which are insured by the Federal Deposit Insurance Corporation; a savings association, as defined in section 3(b) of the Federal Deposit Insurance Act, the deposits of which are insured by the Federal Deposit Insurance Corporation; a farm credit system institution chartered under the Farm Credit Act of 1971; or an insured Federal credit union or State-chartered credit union under the Federal Credit Union Act; and\n(b) Has total assets of $10,000,000,000 or less on the last day of such person's most recent fiscal year;\n(c) Reports, or causes to be reported, the swap to a swap data repository pursuant to §§ 45.3 and 45.4 of this chapter, and reports, or causes to be reported, all information as provided in paragraph (b) of § 50.50 to a swap data repository; and\n(d) Is using the swap to hedge or mitigate commercial risk as provided in paragraph (c) of § 50.50.","path":["Title 17—Commodity and Securities Exchanges","CHAPTER I—COMMODITY FUTURES TRADING COMMISSION","PART 50—CLEARING REQUIREMENT AND RELATED RULES","Subpart C—Exceptions and Exemptions from the Clearing Requirement"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-17.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:31Z","sha256":"a31dae3f6051f68d456a6fb4cff57fb0b885992f85c0dc6c6895c65120b0fa1e","source_id":"us-cfr","stale":true,"prev":"us/17-cfr-50.52","next":"us/17-cfr-50.75"},"notice":"GroundRules: Original legal text. Not legal advice."}