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Results: 1-10 of 28

Market participants make further commitments on over-the-counter derivatives
  • Alston & Bird LLP
  • USA
  • March 2 2010

Yesterday, the International Swaps and Derivatives Association (ISDA) and industry market participants, including dealers and buy-side institutions, submitted a letter to the Federal Reserve Bank of New York (FRBNY) outlining new commitments to bring further transparency and standardization to the over-the-counter (OTC) derivates market, apply collateral management best practices and further utilize central clearing in the credit and interest rate derivatives markets


Senate Agriculture Committee votes to approve derivatives bill
  • Alston & Bird LLP
  • USA
  • April 22 2010

Yesterday, after holding a markup this week, the Senate Committee on Agriculture, Nutrition and Forestry approved, by a 13-8 vote (with all Democrats and Republican Senator Chuck Grassley voting in favor), the Committee's draft over-the-counter (OTC) derivatives legislation that was unveiled late last week


CFTC Chairman Gensler testifies on OTC derivatives markets
  • Alston & Bird LLP
  • USA
  • March 10 2010

Yesterday, Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler appeared before the Senate Committee on Energy and Natural Resources at a hearing regarding the regulation of over-the-counter derivatives, particularly with respect to the energy markets


U.S. Treasury announces proposed regulatory framework for OTC derivatives
  • Alston & Bird LLP
  • USA
  • May 13 2009

Today, the U.S. Treasury Department released a proposal, also submitted in a letter to Congressional leaders, which contemplates a comprehensive regulatory framework for all over-the-counter (OTC) derivatives, largely because “massive risks in derivatives markets have gone undetected by both regulators and market participants.”


House Agriculture Committee holds hearing on discussion draft of Financial Stability Improvement Act
  • Alston & Bird LLP
  • USA
  • November 18 2009

Yesterday, the House Agriculture Committee held a hearing to review the discussion draft of the Financial Stability Improvement Act of 2009 (the FSIA) released by the Treasury and the House Financial Services Committee in late October, which is still currently under mark-up by the House Financial Services Committee


Senator Reed introduces Comprehensive Derivatives Regulation Act of 2009
  • Alston & Bird LLP
  • USA
  • September 23 2009

Yesterday, Senator Jack Reed (D-RI), Chairman of the Senate Banking Committee's Subcommittee on Securities, Insurance, and Investments, introduced the Comprehensive Derivatives Regulation Act of 2009 (CDRA), legislation intended to "establish a comprehensive regulatory framework to prevent derivatives trading activities from ever again contributing to catastrophic failures in our financial system."


FRBNY receives commitments from market participants to expand central clearing for OTC derivatives
  • Alston & Bird LLP
  • USA
  • September 9 2009

Yesterday, fifteen global over-the-counter (OTC) derivatives dealers submitted a letter to the Federal Reserve Bank of New York (FRBNY), affirming their commitment to increase their usage of central counterparties (CCPs) for clearing and setting initial target performance levels to achieve such commitments


Senate Agriculture Committee holds hearing on OTC Derivatives Reform Addressing Systemic Risk
  • Alston & Bird LLP
  • USA
  • December 2 2009

Today, the Senate Agriculture Committee held a hearing entitled "OTC Derivatives Reform Addressing Systemic Risk," to discuss the Obama administration’s proposal and the various Congressional proposals for reform of the over-the-counter (OTC) derivatives market


Federal Reserve Bank of New York hosts meeting for market participants regarding OTC commitments
  • Alston & Bird LLP
  • USA
  • January 20 2010

Last week, the Federal Reserve Bank of New York (FRBNY) held another meeting for major market participants and their international and domestic supervisors to discuss progress made in improving the infrastructure of the over-the-counter (OTC) derivatives market


Treasury Secretary Geithner testifies at hearing on regulation of OTC derivatives
  • Alston & Bird LLP
  • USA
  • July 10 2009

Today, the House Financial Services and Agriculture Committees held a joint hearing titled, "A Review of the Administration’s Proposal to Regulate the Over-the-Counter Derivatives Market," at which U.S. Treasury Secretary Geithner testified on the Obama administration’s comprehensive regulatory framework for OTC derivatives markets