Global Regulators Endorse Derivatives Reporting

Law360, New York (August 24, 2011, 1:12 PM EDT) -- International financial regulators proposed Wednesday to require banks to maintain and report data on their derivatives trades as part of an effort to increase transparency and reduce risk in the $600 trillion swaps market.

In a joint report, the Committee on Payment and Settlement Systems and the International Organization of Securities Commissions warned that they do not currently have enough information to gauge potential volatility in the over-the-counter derivatives market and stave off another financial crisis. Their report was mandated by the Financial Stability Board, a...
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