Over-The-Counter Derivatives Regulatory Proposal Announced
The Treasury Department announced a plan to regulate over-the-counter derivatives today. The plan calls for aggregating data in a clearinghouse, margin and capital requirements, as well as reporting and record keeping requirements, according to the Treasury Department press release. Treasury Secretary Geithner additionally detailed the proposal, which will require congressional action, in a letter to Senate Majority Leader Harry Reid today.
Click here for today's press release, and click here for Secretary Geithner's letter.
