The financial resources allocated by the swap execution facility to meet the ongoing requirements of § 37.1301 shall include unencumbered, liquid financial assets (i.e., cash and/or highly liquid securities) equal to at least the greater of three months of projected operating costs, as calculated on a rolling basis, or the projected costs needed to wind down the swap execution facility's operations, in each case as determined under § 37.1304. If a swap execution facility lacks sufficient unencumbered, liquid financial assets to satisfy its obligations under this section, the swap execution facility may satisfy this requirement by obtaining a committed line of credit or similar facility in an amount at least equal to such deficiency.
authority: 7 U.S.C. 1a,
2,
5,
6,
6c,
7,
7a-2,
7b-3,
and,
as,
Pub. L. 111-203, 124 Stat. 1376
source: 78 FR 33582, June 4, 2013, unless otherwise noted.
cite as: 17 CFR 37.1303