Page 383 of Edits & Columns

Despite some efforts at restraining this beast after the 2008 crisis—the Dodd-Frank Bill, since emasculated—it is noteworthy that large US banks today are even more exposed to derivatives than they were before the crisis.
So, what’s with crypto-X?

The father of crypto-X is the continuing failure of governments and central banks to protect the value of investors’ capital

The New Rules now permit both structural and fund round-tripping, so long as the structures are not designed for tax avoidance/evasion.
Making overseas investments simpler

The draft Overseas Investment Regulations and the Non-Debt Instruments–Overseas Investment Rules need few clarifications, though

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