US lawmakers and regulators are struggling to agree on a bill that would regulate over-the-counter (OTC) derivatives, including oil swaps. The legislation is still "very much a work in progress", Financial Services Committee chairman Barney Frank says. His draft bill is largely based on a legislative proposal that treasury secretary Timothy Geithner presented to Congress in August (AGM, 18 May, p2). But Frank's bill is less restrictive than the Treasury plan in several key areas.
展开▼
