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Foreign Exchange Swaps

Summary of the Decision to Exempt Foreign Exchange Swaps

WHAT’S THE ISSUE? The Treasury secretary was given authority under the Dodd-Frank Act to exempt foreign exchange swaps and forwards from regulation, most notably to be traded on exchanges and go through third-party clearinghouses. Treasury would have to determine that these products should not be regulated as swaps and are not structured to evade the Dodd-Frank Act.  In October 2010 Treasury requested comment on whether the exemption should be granted.    

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