Federal Regulation of Swap Agreements Proposed

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On May 4, 2009, Senators Carl Levin, D-Michigan and Susan Collins, R-Maine introduced the Authorizing the Regulation of Swaps Act (the “Swaps Bill” or “Bill”) which, if passed, would repeal a number of provisions of US law that currently bar the regulation of swap agreements. The Swaps Bill (S. 961) has been referred to the Senate Committee on Banking, Housing and Urban Affairs.

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