NY Fed to host credit derivatives powwow

The Federal Reserve Bank of New York is to hold a meeting with major banks to discuss issues in the credit derivatives market, reports Reuters.

According to Peter Bakstansky, chief spokesman at the NY fed, 14 key banks have been asked to send two representatives to the meeting on September 15.

The meeting was requested by regulators including the Federal Reserve Board, the State of New York Banking Department and the Office of the Comptroller of the Currency, reports the article. Several financ