Banking regulators assured the International Swaps and Derivatives Association that they see no immediate need to regulate the industry - and said that they have advised Congress accordingly.

"We are not encouraging any broad-based legislation at this time," said Darcy E. Bradbury, deputy assistant secretary of the Treasury said at an annual ISDA conference in New York this week.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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