Wall Street May Save Billions on Swaps in Regulator Squabble
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A quarrel among regulators could add up to billions in savings for Wall Street banks.
At stake is a proposed rule that has dragged on for years that could require firms like JPMorgan Chase & Co. and Morgan Stanley to set aside tens of billions of dollars in collateral when trading swaps with their own affiliates. Now, a last-ditch effort by bank lobbyists has helped spur some regulators to second-guess how strict they should be, according to three people familiar with the discussions.