Treasury casts some light on OTC derivatives regulation
US Treasury Secretary Timothy Geithner spoke further about Government plans for the regulation of over-the-counter (OTC) derivatives today during a hearing of the House Financial Services and Agriculture Committees.
Geithner outlined further detail concerning the Obama Administration's proposed reforms in this area, including the requirement that all standardised derivative contracts should be cleared through regulated central counterparties. They would also be executed either on regulated exchanges or via electronic execution systems under the proposals.
The Government proposed the central clearing of all "standardized" OTC derivative contracts in May, but provided no definition of the term at the time
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