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CFTC's Chilton To Fed: Cut Banks' Ties To Commodities

Monday, August 5, 2013 - 6:19 PM
The U.S. Federal Reserve should reverse its policy of allowing investment banks to own metals warehouses and commodity infrastructure assets, a top U.S. derivatives regulator said on Monday.

Banks potentially have a conflict of interest when they trade commodities while also controlling supply, said Bart Chilton, a Democratic member of the Commodity Futures Trading Commission.

"The Fed should do this, and if they don't, Congress should," Chilton said in an emailed statement ahead of a speech scheduled later in the day.
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