Naked euro currency swaps face same fate as CDSs in Germany

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The German Finance Ministry has produced draft legislation that would enshrine last week's temporary short selling ban into law. However, the legislation expands the scope of instruments banned to capture naked currency swaps on the euro as well as all German stocks traded on exchanges.

The shorting ban announced by the German securities regulator, Bundesanstalt für Finanzdienstleistungsaufsicht (Bafin), which shook global markets last week, initially prohibited the naked short selling of eurozo

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