Lincoln Push-Out Rules
Barely one month before it would otherwise have become effective for institutions regulated by the Federal Reserve, the Board has acted to postpone implementation of the controversial and far-reaching swaps push-out provisions of Dodd-Frank generally known as the Lincoln Amendment. The FRB cannot reverse this law, but it has acted not only to establish a transition period of at least two years comparable to one set earlier this year by the OCC, but also to give uninsured branches and agencies of foreign banks comfort that, at least for now, they need not choose between their U.S. and global activities by shutting down their derivatives operations on June 15.

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