News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Trading

CFTC aims to close swaps loophole for large US banks

Tighter restrictions eyed for overseas units included on US parents’ financial statements

CFTC aims to close swaps loophole for large US banks

The overseas units of large US banks would face tougher restrictions on their swaps trading under steps proposed by a top US regulator.

Commodity Futures Trading Commission Chairman Timothy Massad, in a speech, proposed requiring offshore units of large American banks to adhere to CFTC rules even in cases where the units' US parents aren't explicitly on the hook for the trades.

WSJ Logo