On May 10th, the Federal Reserve Board, FDIC and OCC issued guidance regarding the effective date of Section 716 of the Dodd-Frank Act with respect to entities for which each is the prudential regulator. Section 716 generally prohibits swap entities from accessing the Federal Reserve's credit facilities or discount window and FDIC insurance. Because Section 716 was part of the Wall Street Transparency and Accountability Act of 2010, the effective date for that prohibition is July 16, 2013. 77 FR 27456.