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Sen. Feinstein working to reinstate U.S. swaps 'push-out' rule -aide 

February 9, 2015

Emily Stephenson and Sarah N. Lynch, Reuters

Senator Dianne Feinstein of California hopes to reinstate a hotly contested requirement for big banks' swaps trading after U.S. lawmakers voted in late 2014 to loosen the rules for Wall Street.

The so-called swaps "push-out" provision of the 2010 Dodd-Frank financial law required banks to conduct risky derivatives trading in units separate from their deposit-taking activities.

But lawmakers largely undid that requirement, which had not yet taken effect, at the end of 2014 by including in an unrelated government spending package a provision that exempted most swaps activity from needing to be separated.

Feinstein, a Democrat, is considering ways to restore the Dodd-Frank provisions that were removed and will likely introduce legislation, a Senate aide told Reuters.

Read More: Reuters

 
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