The sequester won’t lead to furloughs at the Commodity Futures Trading Commission, CFTC Chairman Gary Gensler said Wednesday.  

He said the March 1 across-the-board cuts for the federal government would take roughly $10 million from the agency’s projected $205 million fiscal 2013 budget.

The CFTC chairman said the agency is shelving enforcement actions because of a budget shortfall resulting from additional oversight required by the Dodd Frank act of the swaps market, which is eight times larger than the futures market, the agency’s long-time responsibility.

In part because of budget limits, Gensler said, the CFTC doesn’t have staff coordinating oversight of futures commission merchants with the National Futures Association.

Gensler made his comments after and during a Senate Banking Committee hearing.