Geithner's decision on forex-swaps regulation looms

03/20/2011 | Washington Post, The

Treasury Secretary Timothy F. Geithner is expected to announce soon whether foreign-exchange swaps will be subjected to tougher regulations. Mr. Geithner's decision puts him in the center of a battle between major banks, which say that forex swaps do not require more oversight, and lawmakers and regulators who argue that additional supervision is needed. "Today's foreign exchange markets operate with high levels of transparency ... and have performed extremely well throughout the recent market crisis," according to officials from The Financial Services Roundtable and Institute of International Bankers.

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