WASHINGTON - The Treasury Department and congressional Republicans have agreed on legislation that would shield bank swaps from increased federal regulation, teeing up the bill for passage as early as today.

The overhaul of the Commodity Exchange Act is expected to be part of a catchall spending package that lawmakers must pass before adjourning for the year. It would, among other things, tightly restrict nonbank regulators' jurisdiction of wholesale swaps contracts executed by banks and establish a special test for determining which regulators would oversee new bank products.

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