|
|
Article: CFTC promises not to regulate swaps like futures.(Commodity Futures Trading Commission)
- Article from:
- The Bond Buyer
- Article date:
- January 23, 1996
- Author:
CopyrightCOPYRIGHT 1996 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Derivatives industry participants, including those that deal in municipal derivatives, got the reassurance they needed from the Commodity Futures Trading Commission last week when the agency said it does not want to regulate swaps as if they are futures contracts.
In a letter sent Friday to two powerful congressional leaders, House Commerce Committee chairman Thomas Bliley, R-Va., and House Agriculture Committee chairman Pat Roberts, R-Kan., the agency emphasized that it did not intend to expand its definition of a futures contract that was included in its July enforcement action against two Metallgesellschaft A.G. units.
"The commission neither changed nor ...