The president of the European Commission, Jos?anuel Barroso, also weighed in, saying his office would closely examine certain types of swaps trades that he called "purely speculative".
The I.R.S. directive identified four types of swaps: cross in-cross out; cross in-interbroker dealer out; cross in-foreign affiliate out; and synthetic equity transactions.
It doesn't repeal the Volcker Rule, which restricts proprietary trading, and even after it has been passed, some types of swaps trading will still have to be spun off into subsidiaries.
The House bill adopted in December would give the Commodity Futures Trading Commission and the Securities and Exchange Commission regulatory power over swaps and derivatives and would require most types of swaps to be traded through clearinghouses.
"Regulators are going to be very much focused on what types of swaps get cleared, so the governance and ownership aspects that are just as important may not get the attention they deserve".
In November, the New York Federal Reserve Bank used taxpayer funds to finance a special investment vehicle dubbed Maiden Lane III that would be used to buy up the underlying assets on these types of swaps, thereby canceling the contract.
The agency internally considered a number of compromises, including one that would have determined the RFQ minimums based on how often certain types of swaps were traded.
Asked if this type of swap might embolden other militants to take hostages, Hagel said that this operation was a prisoner exchange.
Quincey was part of a three-way deal last week with Detroit, Colorado and Tampa Bay, the type of swap in which two clubs addressed immediate needs and one planned for the future.
Critics of the prisoner agreement, namely Republican lawmakers and presidential candidates, argue that any type of swap or exchange is unjust.
