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Treasury Carves Rule Exemption

By VICTORIA MCGRANE And ANDREW ACKERMAN
 

WASHINGTON—The Treasury Department proposed excluding certain foreign-exchange instruments from new rules governing derivatives, a decision hailed by business organizations but criticized by some advocacy groups as creating a regulatory loophole.

Treasury officials said Friday that the instruments, known as foreign-exchange swaps and forwards, shouldn't fall under the same rules as other derivatives. Doing so, they said, could expose the market to greater risk and instability.

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