JPMorgan, Citi Lobby GOP Lawmakers to Relax Swap Rules - News Summed Up

JPMorgan, Citi Lobby GOP Lawmakers to Relax Swap Rules


WASHINGTON—On the heels of a legislative victory this week for small and midsize banks, bigger banks including JPMorgan Chase & Co. and Citigroup Inc. are lobbying congressional Republicans in an effort to ensure a victory of their own. Large banks are pushing Congress to redefine swap transactions made between different affiliates of the same company so that they aren’t subject to certain rules stemming from the 2010 Dodd-Frank Act. The move would prevent regulators from forcing banks to post collateral for those transactions,...


Source: Wall Street Journal May 23, 2018 18:33 UTC



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