Gensler says CFTC to delay many swaps rules to 2012

09/9/2011 | Wall Street Journal, The

Gary Gensler, chairman of the Commodity Futures Trading Commission, said the agency won't finalize many of the rules for the over-the-counter derivatives market until 2012. The rules include measures governing the collateral that firms will need to put up to protect against losses on derivatives trades. Gensler didn't offer a firm timeline for the rule writing. "I think this is doable, but we're not going to manage this against a clock. We're going to do it in a balanced way and take the time that is appropriate to get these things done," he said.

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