Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Wall Street Watchdogs Propose $40 Billion Reprieve for Banks (1)

Sept. 16, 2019, 10:05 PMUpdated: Sept. 17, 2019, 6:31 PM

Wall Street banks are set to get one of their biggest wins of the Trump era as regulators took a first step toward reversing a rule that’s forced banks to set aside billions of dollars for swaps trades with their own affiliates.

The Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency Sept. 17 proposed eliminating the Obama-era margin requirement -- a move that Bloomberg News previously reported. Industry lobbyists have long argued that the demand is redundant and that it puts U.S. banks at a competitive disadvantage to overseas rivals.

Other regulators, including the Federal ...