Senate bill deals blow to corporate users of derivatives

christopher-dodd
Christopher Dodd, Senate Banking Committee chairman

US corporates' hope for exemption from the central clearing of derivatives took a knock yesterday as a US Senate committee released a draft discussion bill that differs from two existing derivatives bills introduced in the House of Representatives. The bill, the Restoring American Financial Stability Act 2009 - released by the Senate Banking Committee under the chairmanship of Senator Chris Dodd - proposes sweeping reforms to the regulatory system, including the creation of a single federal b