Treasury Outlines Plan To Regulate OTC Derivatives

Law360, New York (May 13, 2009, 12:00 AM EDT) -- The Obama administration on Wednesday released details of a plan to require all standardized over-the-counter derivatives to be cleared through central clearinghouses as part of an effort to ensure stability in the financial markets.

U.S. Treasury Secretary Timothy J. Geithner said the requirement would help create transparency in the markets and was "one of the most important things we can do to make the system more stable in the future."

"It won't solve all the problems, but it's a hugely important thing to do," he said...
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