Fed offers foreign banks leeway on rule for swaps push-out

06/5/2013 | Bloomberg · Reuters · Wall Street Journal, The

The Federal Reserve has granted foreign banks a reprieve from a Dodd-Frank Act rule that requires them to separate derivatives trading from units that get U.S. deposit insurance. The rule still takes effect July 16, but the Fed says foreign banks can seek as long as two years to transition toward full compliance.

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Bloomberg · Reuters · Wall Street Journal, The

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