; (II) an entity described in only subclause (III) of subparagraph (A)(i); or (III) a non-financial entity. (iii) Eligible risk defined In this subparagraph, the term eligible risk means risk that— (I) originates from a non-financial entity; (II) is associated with an asset owned or liability incurred or reasonably likely to be owned or incurred by the non-financial entity in the conduct of the business of the non-financial entity; (III) is not netted, combined, or consolidated with risk originating from any affiliated financial entity; and (IV) if transferred, is transferred only to or through one or more affiliated risk management entities. (iv) Requirements of risk management entities A risk management entity that engages in swaps which utilize the exception in this subparagraph shall— (I) notify the Commission, in a manner prescribed by the Commission, how the risk management entity generally meets the financial obligations of the risk management entity associated with entering into non-cleared swaps; (II) identify those swaps used to hedge or mitigate eligible risk originating from one or more affiliated non-financial entities; and (III) maintain books and records of the swaps which utilize the exception in this subparagraph and the related eligible risk in such form and manner and for such period as may be required by the Commission. (v) No effect on non-financial entities Nothing in this subparagraph shall be interpreted to limit the ability of any non-financial entity to engage in a swap to which the requirements of paragraph (1)(A) do not apply.