OCC signals banks will have more time to wall off swaps trading

01/4/2013 | Reuters · Bloomberg

Companies that engage in swaps trading and receive federal deposit insurance are required under the Dodd-Frank Act to spin off some swaps trading into a separate branch. However, the Office of the Comptroller of the Currency says that if banks ask for a transition period, the request will be "considered favorably." A transition period "gives the OCC more time to analyze the push-out rule to avoid destabilizing the banking system," said Robert Hatch, regulatory affairs counsel at The Financial Services Roundtable.

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