WASHINGTON - Leaders of the House Banking Committee introduced compromise legislation to tighten the regulation of bank's derivatives activities yesterday in hopes that the measure can be enacted by Congress later this year.

The Derivatives Safety and Soundness Supervision Act of 1994 calls for the bank regulators, the Office of Federal Housing Enterprise Oversight, the Federal Housing Finance Board, and the National Credit Union Administration to jointly establish comprehensive and consistent standards for the derivatives activities of banks, government-sponsored agencies, and federal credit unions.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.