Code of Federal Regulations Title 17. Commodity and Securities Exchanges § 17.50.53 Banks, savings associations, farm credit system institutions, and credit unions exempt from the clearing requirement

(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

(b) Has total assets of $10,000,000,000 or less on the last day of such person's most recent fiscal year;

(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

(d) Is using the swap to hedge or mitigate commercial risk as provided in paragraph (c) of § 50.50.