The Treasury Department has raised the question of whether foreign-exchange swaps and forwards should be exempted from the derivatives rules being drafted by the Commodity Futures Trading Commission. "The secretary has made no determination whether an exemption is warranted," the Treasury said. "Although not required under the Dodd-Frank Act, the Department of the Treasury invites comment on whether such an exemption for foreign-exchange swaps, foreign-exchange forwards, or both, is warranted."

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