US commissioner to urge cut in banks’ role in physical commodity trade

摘要

London—Commissioner Bart Chilton of the US Commodities Futures Trading Commission is set to call on the Federal Reserve and US lawmakers to reverse the 2003 decision to allow banks to own physical commodity businesses, warehousing and delivery mechanisms. In remarks prepared for a speech to be delivered later Monday to a group of cotton cooperatives in California, Chilton said that banks “own various commodity interests in energy, agriculture and metals, which can impact prices that consumers pay, and they trade in the same commodity markets that also impact price. The potential conflicts are clear.”