On August 8, 2016, the CFTC approved an exemption for Federal Reserve Banks that maintain customer accounts for certain derivatives clearing organizations from liability under the Commodity Exchange Act. The exemption allows the Federal Reserve Banks to hold customer funds of DCOs designated by the FSOC as systemically important without being subject to liability under the CEA and also exempts the Federal Reserve Banks from private rights of action that could otherwise be brought under the CEA.

The CFTC press release, which includes links to the exemption, is available at: