The Commodity Futures Trading Commission has decided to delay requiring manufacturers and other nonbanks to begin reporting swaps used for hedging and not speculation. The last-minute reprieve -- rules were set to start today -- is intended to make the swaps market more stable. Now, most of the firms affected by the postponement have until July 1 for interest-rate and credit-default swaps compliance, and until Aug. 19 for swaps on the equity, commodity and foreign exchange fronts.

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