U.S., Europe to overhaul the way banks operate in 2010.
2010 is likely to be the year that the U.S. and EU overhaul financial-regulatory systems, says Reuters. Among the expected changes: stricter limits on leverage and capital; regulations for derivatives markets; restrictions on lenders’ power to securitize mortgages; and scrutiny for hedge funds. The House has already passed a regulation bill, and the U.S. is, of course, waiting on the Senate. The EU must still rule on its proposals, which are expected to pass.
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