SEC grants relief on Treasury clearing rules for certain repo transactions

The Securities and Exchange Commission (SEC) has provided exemptive relief related to inter-affiliate and non-U.S. repo transactions to assist broker-dealers and market participants in complying with Treasury clearing rules, according to an SEC press release.

The SEC adopted the Treasury clearing rules in December 2023 and has since extended compliance dates to allow further engagement on operational and interpretive questions, facilitating an orderly implementation of the rules.

In September 2025, the SEC launched a consolidated webpage offering updates, FAQs, and resources to support market participants during the transition to central clearing of U.S. Treasury securities.

The recent relief follows extensive public engagement and requests for exemptions, aiming to address practical challenges of cross-border transactions while maintaining the benefits of central clearing, SEC Commissioner Mark T. Uyeda stated.

Market participants preparing for compliance can directly contact SEC staff in the Division of Trading and Markets for assistance during the implementation period.