WASHINGTON -- The top Republican on the House Banking Committee said yesterday he may introduce legislation in January that would mandate the creation of an interagency group to develop uniform regulations for derivative products.

Calling derivatives "the new wild card in international finance," Rep. Jim Leach, R-Iowa, talked about the possibility of legislation at a press briefing during which he released a 400-page report containing 30 recommendations for the federal agencies that regulate the derivatives markets.

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