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"It's going from wild west to heavily policed," Mr. Shapiro said, noting that Congress last year imposed regulations on the way banks sell swap products.
Virtually all of Germany's commercial banks, as well as some government-owned Landesbanks, sold swap products, whose total value was estimated at about 1 billion euros, he said.
Barclays also admitted that it was taking a provision of £450m for the interest rate swap products that were sold to small businesses but are now being investigated by the FSA.
Although companies often legitimately sell goods and services to each other at fair market values, sometimes they swap products at inflated prices and each records the excessive prices as revenue.
Not in the sense that you can swap products cross-platform, of course.
Similar(55)
If executives had been paid to build companies that could swap product lines quickly in this case to smaller, fuel-efficient vehicles the auto industry might not be the basket case it is today.
Swaps products vary in their complexity and the FSA said some of these can be appropriate when sold in the right circumstances.
A recent survey by Rakuten, a Japanese e-commerce firm, found that Brazilians are some of the world's keenest "social shoppers", swapping product tips with their friends and other online contacts.By Brazilian standards Belo Horizonte boasts a well-educated workforce.
Its Worn Wear initiative aims to reduce consumption by encouraging customers to hold on to, repair or swap existing products, rather than replace them with new ones.
Swap dairy products, sugar, and high-glycemic foods for carotenoid-packed vegetables — those with a dark green, red, and orange hue.
It lets users not only check the prices for goods across these places, but then allows them to quickly swap their products over to the cheapest retailer to buy them.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com