Section 716: The do-nothing approach

The do-nothing approach

slow-sign

The ostrich has long been defamed by the rumour that it sticks its head in the sand when confronted with danger. A nonsensical myth – if only from an evolutionary standpoint – it is nevertheless the tactic that derivatives dealers are said to be adopting in the run-up to the implementation of section 716 of the Dodd-Frank Act.

The rule – known colloquially as the swaps push-out or the Lincoln amendment, after former Arkansas senator Blanche Lincoln, who introduced the measure – forces banks oper

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