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Mason.

Theresa

From: Riley, John


Sent: Monday, May 10, 20104:08 PM
To: McCarty, Pat (Agriculture); Claussen, Cory (Agriculture); Wilder, George (Agriculture);
Julie_Chon@banking.senate.gov
Cc: Leslie, Douglass; Berkovitz, Dan M; Arbit, Terry
Subject: Bankruptcy, clearing, and the Dodd-Lincoln substitute: CFTC Staff Technical Description
Attachments: Collateral is necessary for clearing 2.docx

All-

As the Senate may soon consider amendments to the Dodd-Lincoln substitute that implicate the bankruptcy
treatment of clearinghouse collateral, I am passing along to you the background in the attached document. It was prepared
by CFTC staff as technical assistance, and describes how current bankruptcy treatment effectively facilitates the clearing
process.

If you have any questions, please let me know.

John

John P. Riley
Director of Legislative Affairs
Office ofthe Chairman
u.s. Connnodity Futures Trading Connnission
115521 51 St., NW
Washington, DC 20581
(202) 418-5383
JRi1ey@CFTC.gov

CFTC-CREW-0158

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