US Treasury to move 'expeditiously' on FX exemption

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The US Department of the Treasury has recognised the urgent need for clarity over the question of whether foreign exchange swaps and forwards should be exempted from the onerous clearing requirements of the Dodd-Frank Act in one of the clearest signs yet that a decision might be imminent.

"We know this is an issue that market participants and other stakeholders are interested in. Like other areas of Dodd-Frank implementation, and consistent with the guiding principles, this is an area where we

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