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SEC Approves Rules Requiring Public Reporting of Swap Trades

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U.S. regulators adopted rules that will require most swaps trades to be publicly reported, a response to lax derivatives oversight in the run-up to the credit crisis.

The rules approved today by the Securities and Exchange Commission call for an interim period during which all swaps must be reported to public databases within 24 hours. Regulators said the requirements could change as they study how the reporting affects the cost and ability of banks and other firms to make large trades.