Wall Street Called Out by Regulators for Stalling on Swaps Rule
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U.S. regulators are getting fed up with Wall Street’s attempts to stall a restriction on risky swaps trades.
JPMorgan Chase & Co., Citigroup Inc. and other lenders have already won one delay of the measure that forces them to move derivatives out of units with federal backstops. Getting another reprieve is crucial for banks, because it would give them time to persuade a Republican-led Congress to kill the requirement.