U.S. Chamber Comments on Administration's Derivatives Proposal

WASHINGTON, D.C.—The U.S. Chamber of Commerce Center for Capital Markets Competitiveness President David Hirschmann issued the following statement today regarding the Obama administration's over-the-counter derivatives proposal:

"We welcome the administration's efforts to bring greater transparency and regulatory oversight to the derivatives markets. Businesses across the country from wide ranging sectors and sizes use over-the-counter derivatives to manage the risks associated with their day-to-day business operations. We look forward to working with Congress on legislation that will improve transparency and oversight, while upholding the ability for companies to use customized products to protect themselves from risk and improve their access to credit. This is critical for companies navigating today's market conditions."

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

# # #