In a long-awaited move, the US Federal Reserve Board has initiated a process that could lead to stricter regulations on the ability of Wall Street banks to trade physical commodities. On January 14, the Fed released a document discussing the risks associated with banks' physical trading activities and potential regulatory changes that could mitigate those risks.
The document, called an advance notice of proposed rule-making (ANPR), dwells at length on recent catastrophes such the 2010 Gulf of
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