US curbs on overseas swaps may be delayed

Washington

WALL Street banks are close to winning a further delay of a US policy that clamps down on their overseas derivatives trades, according to two people with knowledge of the matter.

The Commodity Futures Trading Commission is probably going to postpone subjecting transactions set up in the US, but held in overseas divisions, to Dodd-Frank Act trading regulations, said the people, who asked not to be named because the deliberations are private. The regulator is weighing how long the delay should be, the people said.