Gensler says CFTC to delay many swaps rules to 2012

Gary Gensler, chairman of the Commodity Futures Trading Commission, says 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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