Among the power players in Washington, corporate treasurers are conspicuously absent. But when the tools they need to manage risk–over-the-counter (OTC) derivatives–were threatened by the wave of regulatory reform, treasurers reacted quickly and effectively. And they have moved the playing field, even though the outcome is still uncertain.
Legislators' proposals to eliminate over-the-counter trading of derivatives and force all derivatives trading onto exchanges are part of the fallout from the credit crisis.
A House bill and Senate drafts "started out to be more aggressive, but members of Congress were absolutely bombarded with objections from end users," reports Pat Ryder, director of financial risk management at $5 billion Eastman Chemical Co. in Kingsport, Tenn. "End users have never been more united. They pushed back effectively."
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
