House Financial Services Committee
OTC reforms built to last?
Reform of derivatives markets is gathering pace in the US ahead of a crucial debate in the House of Representatives. But questions remain over exemptions for corporate hedgers and foreign exchange swaps and forwards, meaning the final architecture of the…
Positioning repositories
Regulators on both sides of the Atlantic agree on the need for trade repositories to aid the monitoring of systemic risk. But there is a difference of opinion on where these repositories should be based, leading to the possibility that multiple trade…
Stuck in the muddle
Regulators in the US and Europe are making efforts to extend central clearing to all asset classes. However, dealers argue that central clearing does not make sense for foreign exchange. By Alastair Marsh
Corporate concessions
Corporates have argued initiatives to introduce over-the-counter derivatives regulation in the US and Europe will severely hamper their ability to hedge. After an intensive lobbying effort, the politicians appear to be listening. Matt Cameron reports
House committee chairmen produce roadmap to OTC reform
Collin Peterson and Barney Frank, the chairmen of the US House Committee on Agriculture and the House Financial Services Committee, respectively, have agreed a set of principles for imminent reforms to over-the-counter derivatives regulation.
Regulatory turf war hits Congress
A battle for influence among US financial regulators broke out in Congress on July 24, as they testified before a Congressional committee on the merits of the Obama administration's proposals for regulatory reform.
US Congress Basel II bill is put on hold, for now
Washington DC – The bill written by the House of Representatives' Financial Services Committee, which was designed to take control of the Basel II negotiation process away from US regulators and hand it to Congress, has been shelved for now, say…
US Treasury department creates new financial institutions policy office
A new office that will focus on legislative and policy matters related to the financial services sector — including commercial banks, investment banks, insurance companies, credit unions and savings and loans — was announced yesterday by the US Treasury.