House Passes Bill to Exempt Small Banks from Swaps Rules  (American Banker)

April 25, 2012

“The House on Wednesday easily approved a bill that would provide small banks an exemption from clearing requirements for swaps under the Dodd-Frank Act…The bill was opposed by Americans for Financial Reform, which argued that it will provide an exemption not just for small players, but also for major participants in the derivatives markets…It is important to understand that this $1 billion exposure level can correspond to an enormous swaps book,” the group wrote.” Click here for more.