W.House says derivatives key part of reform effort

WASHINGTON, April 26 (BestGrowthStock) – The White House said on
Monday that a Senate financial regulatory reform bill, which
includes proposals on derivatives, would help create a more
stable U.S. financial system.

“The administration also commends the Senate Agriculture
Committee for additional leadership on provisions related to
derivatives,” the White House said in a statement.

It was not immediately clear whether that meant the White
House was backing hard-hitting proposals by Democratic Senate
Agriculture Committee Chairman Blanche Lincoln for the largely
unregulated $450-trillion over-the-counter derivatives market.

Lincoln’s proposals would require banks to spin off their
swap-trading units.

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W.House says derivatives key part of reform effort