ATLANTA The U.S. market for derivatives has slowed since Procter & Gamble Co. reported a big loss on interest rate swaps earlier this year, says NationsBank Corp, chief executive Hugh McColl.

"The derivatives market is O.K. Activity has slowed down some, and I think it will adjust itself, which is to say that rational behavior - market forces - is all that's needed," he told reporters at the Atlanta Chamber of Commerce last week.

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