U.S. Working With Other Countries on Swaps Rules
By Dave Clarke
Published December 6 2011 Reuters
U.S. banking regulators are working with international counterparts to address worries that margin and capital requirements for derivative trades will put Wall Street at a competitive disadvantage, a top regulator plans to tell Congress on Tuesday. U.S. regulators will take this work into consideration when writing a final rule governing these trades that is expected to be released by mid-2012, Federal Deposit Insurance Corp acting Chairman Martin Gruenberg said.
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