Staying Informed

Insight: Three years on, Fed keeps BoA-Merrill waiting on commodity trade

By David Sheppard NEW YORK (Reuters) - In May 2010, one of Wall Street's biggest banks went to the Federal Reserve with a seemingly straightforward request: permission to expand its physical commodity operations through specialized power contracts. The regulator had already given rivals the go-ahead for such "tolling" arrangements that allowed long-term business deals with electricity plants ...

 

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