Banks Preparing For (and Fearing) Derivatives Rules
By Ben Protess
Published July 11 2011 NYT
Wall Street is giving a long-anticipated makeover to its derivatives business, a major profit center that played a leading role in the financial crisis.As regulators hammer out dozens of new rules for the $600 trillion market, the banking industry is collectively spending billions of dollars to comply with the overhaul, according to a new study by Thomson Reuters.
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