WASHINGTON - Brandishing a new study of a decade's worth of bank regulatory filings, U.S. banking regulators asserted Wednesday that proprietary trading has been getting a bad rap.

"This is an educational document," said Douglas E. Harris, senior deputy comptroller for capital markets. "The main message is: Not only is (proprietary trading) not as bad as a lot of people may think, but it may not be what they think it is."

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