New York Times (November 20)
Last week, the Treasury Department decided to exempt “certain foreign exchange derivatives from rules under the Dodd-Frank reform law that are intended to reduce risk and increase transparency. The exempted derivatives—instruments known as foreign exchange swaps and forwards—represent a $4 trillion-a-day global market.” This “step back for derivatives regulation” invites new problems and could spur a future crisis.
Last week, the Treasury Department decided to exempt “certain foreign exchange derivatives from rules under the Dodd-Frank reform law that are intended to reduce risk and increase transparency. The exempted derivatives—instruments known as foreign exchange swaps and forwards—represent a $4 trillion-a-day global market.” This “step back for derivatives regulation” invites new problems and could spur a future crisis.
