Dodd-Frank: forex swap clearing exemption at Treasury secretary’s discretion
Blanket forex exemption dropped from final bill; Treasury to determine issue
Foreign exchange (forex) derivatives markets are pondering the implications of the decision to include forex swaps and forwards in the mandatory clearing requirement in the final version of the US financial regulatory reform bill.
The congressional conference committee reconvened for an extraordinary session on the evening of June 29 after senator Scott Brown sent a letter to Barney Frank, chairman of the House Committee on Financial Services, and Christopher Dodd, chairman of the Senate
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