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Abstract
This chapter surveys current initiatives of the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation(FDIC) for the supervision and regulation of derivatives activities of banks and other financial institutions. It further highlights the efforts of representatives of financial trade groups, under the coordination of the Federal Reserve Bank of New York, to develop the Principles and Practices for Wholesale Financial Market Transactions,2 as well as initiatives of the Derivatives Policy Group, the Federal Financial Institutions Examination Council, and the Bank for International Settlements to promote enhanced disclosure and supervision of derivatives activities. The chapter concludes with a review of other significant federal initiatives.
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