Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Senate committee to take up bill on CFTC
Source: Reuters
Senate committee to take up bill on CFTC
Reuters
April 11, 2016
WASHINGTON (Reuters) - A U.S. Senate committee will soon consider legislation on the country's commodities and derivatives regulator that is intended to keep financial-sector restrictions in the Dodd-Frank Wall Street reform law from applying to farmers and ranchers because their derivatives trading helps them manage operational risks.
On Thursday, the Agriculture Committee will mark up legislation reauthorizing the Commodity Futures Trading Commission, which oversees the $400 trillion U.S. swaps market as well as trading in agriculture, metals and energy.
Republicans, who are the majority in Congress and lead the committee, unveiled the bill late on Monday. A congressional source familiar with the legislation said lawmakers were open to negotiation and the bill could change before Thursday.
The central aim of the Senate committee's bill is to allow farmers, ranchers and energy providers to hedge their operational risks with derivatives, while maintaining regulation of financial swaps trading. The source said it was not an attempt to affect position limits that the CFTC sets on contracts or options.
[font size=1]-snip-[/font]
Reuters
April 11, 2016
WASHINGTON (Reuters) - A U.S. Senate committee will soon consider legislation on the country's commodities and derivatives regulator that is intended to keep financial-sector restrictions in the Dodd-Frank Wall Street reform law from applying to farmers and ranchers because their derivatives trading helps them manage operational risks.
On Thursday, the Agriculture Committee will mark up legislation reauthorizing the Commodity Futures Trading Commission, which oversees the $400 trillion U.S. swaps market as well as trading in agriculture, metals and energy.
Republicans, who are the majority in Congress and lead the committee, unveiled the bill late on Monday. A congressional source familiar with the legislation said lawmakers were open to negotiation and the bill could change before Thursday.
The central aim of the Senate committee's bill is to allow farmers, ranchers and energy providers to hedge their operational risks with derivatives, while maintaining regulation of financial swaps trading. The source said it was not an attempt to affect position limits that the CFTC sets on contracts or options.
[font size=1]-snip-[/font]
Read more: https://www.yahoo.com/news/senate-committee-bill-cftc-223442660--sector.html