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					Dear Mr Barry F. Mardock   I have pleasure in attaching a response from the Japan Markets Council (JFMC) to your consultation on Margin and Capital Requirements for Covered Swap Entities (RIN 3052-AC69). If you have any queries, please do not hesitate to contact me.               With regards   Paul Hunter  Head of Secretariat | Japan Financial Markets Council Secretary General | International Bankers Association of Japan   Imperial Hotel Tower. 6F, 1-1-1 Uchisaiwaicho Chiyoda-ku, Tokyo 100-0011 Direct: +81 (0)3 6205 7532 | General: +81 (0)3 6205 7531 | Fax: +81 (0)3 3539 2361           | 
    
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