The chairmen of the Senate and House Agriculture committees this week proposed preventing the Commodity Futures Trading Commission from regulating derivatives until Sept. 30, 1999.

In a Sept. 15 letter, Sen. Richard G. Lugar, R-Ind., and Rep. Robert F. Smith, R-Ore., asked that a one-year moratorium be placed on the commission's "ability to issue regulations concerning the over-the-counter derivatives market."

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