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Geithner Pushes for International Rules to Govern Derivatives Market

CQTreasury Secretary on Monday urged international regulators to follow the United States' lead and toughen oversight of financial derivatives.

"Just as we have global minimum standards for bank capital -- expressed in a tangible international agreement -- we need global minimum standards for margins on uncleared derivatives trades," Geithner said in prepared remarks at the International Monetary Conference in Atlanta. "A global approach to margin will help prevent regulatory arbitrage and a 'race to the bottom.' "