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Foreign Exchange Swaps

The Wall Street Journal: Treasury's Ruling on Forex Exemption May Come Soon

WASHINGTON—The Treasury Department could decide soon whether to exempt some foreign-exchange instruments from new rules governing derivatives, a call that has divided regulators and pit big banks and businesses against those who fear a loophole that could undermine efforts to prevent a repeat of the financial crisis.

The Dodd-Frank financial-overhaul law enacted by Congress last year left open a big question: Whether foreign-exchange swaps and forward contracts should fall under the same rules as other derivatives.