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FDIC’s Hoenig faults congressional pact on swaps push-out law

( December 10, 2014, 21:30 GMT | Official Statement) -- MLex Summary: A tentative $1.1 trillion congressional spending plan announced Wednesday is “illogical” in repealing the 2010 swaps push-out law, said Thomas Hoenig, vice chairman of the US Federal Deposit Insurance Corporation. The four-year-old law,  part of the Dodd-Frank Act, requires federally insured  banks to spin off some derivatives-trading operations.Statement follows in full. ...

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