House Set To Require Derivates Clearing, Ban Naked CDS

Big changes are coming to the credit default swaps market.    The House of Representatives will consider a bill that both requires derivatives to be cleared through clearinghouses and bans naked CDS.   Rep. Collin Peterson (D-Minn.), who heads the House Agriculture Committee, said he and Financial Services Committee Chairman Barney Frank (D-Mass.) have agreed on the new rules. Peterson’s committee has already approved a bill that would … [Read more...]