Berkshire May Be Spared Collateral Posting on Financial Reform

Warren Buffett’s Berkshire Hathaway Inc., which lobbied Congress to exclude its derivatives contracts from new collateral requirements, may get its way as the financial regulatory overhaul nears approval.

The new rules won’t alter previously written derivative contracts, Democratic Senators Chris Dodd of Connecticut and Arkansas’s Blanche Lincoln told Democratic Representatives Barney Frank of Massachusetts and Minnesota’s Collin Peterson in a letter. Dodd is chairman of the Senate Banking Committee.