Home \ Terms \ Topics \ Foreign Exchange Swaps

You are here

Foreign Exchange Swaps

Blowing a Hole in Dodd-Frank

Teasury Secretary Timothy Geithner is close to a decision to exempt the $4 trillion-a-day foreign-currency market from key provisions of the Dodd-Frank Act requiring greater transparency in the trading of derivatives. In the horse-trading over the final conference version of that legislation last year, both Geithner and financial-industry executives lobbied extensively to give the Treasury secretary the right to create this loophole.