Press Room
 

FROM THE OFFICE OF PUBLIC AFFAIRS

December 14, 2000
LS-1074

STATEMENT BY TREASURY SECRETARY LAWRENCE H. SUMMERS

We are pleased with the agreement reached last night on over-the-counter derivatives. We hope that Congress will now pass this important legislation that will allow the United States to maintain its competitive position in this rapidly growing sector by providing legal certainty and promoting innovation, transparency and efficiency in our financial markets.