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Fed Releases Final Swaps Push-Out Rule for Foreign Banks

The Federal Reserve completed a rule that gave foreign banks a chance to delay a Dodd-Frank Act requirement that they wall off derivatives trades from their U.S. branches.

The final rule will be effective Jan. 31 and wasn’t changed from an interim version put out in June, the central bank said today in a statement issued in Washington. The rule treats uninsured U.S. branches of foreign banks the same as branches that have government backing, including deposit insurance.