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." SIFMA's Ken Bentsen welcomed the additional time, but said that Congress should reconsider the provision. "We continue to believe that the underlying swaps push out provision is bad policy," Bentsen said.

View Full Article in:

Reuters · Bloomberg

Published in Brief: