Reform bill would require clearing of forex swaps

07/1/2010 | Risk.net (subscription required)

Legislation to overhaul financial regulation would require clearing of foreign exchange swaps and forwards. "Foreign exchange swaps and foreign exchange forwards shall be considered swaps unless the [Treasury] secretary makes a written determination that either foreign exchange swaps or foreign exchange forwards or both should be not be regulated as swaps under this Act," the legislation states.

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