The top U.S. derivatives regulator gave Wall Street two monthsto abide by a new policy imposing Dodd-Frank Act rules on bankswhen they arrange trades domestically and then book themoverseas.

The Commodity Futures Trading Commission (CFTC) postponed aNov. 14 advisory that undermined a legal interpretation WallStreet had found buried in a footnote, number 513, in an earlier agencydocument. Banks relied on the footnote to keep swap deals offelectronic platforms and away from the agency's rules that were putin place in the wake of the 2008 financial crisis.

In a letter released yesterday, the agency said that it agreedto the delay after swaps dealers said they needed “additional time” to “allow themto organize their internal policies and procedures to come intocompliance.”

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