No derivatives votes on Wed-US Rep Frank

WASHINGTON Wed Oct 14, 2009 11:26pm IST

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WASHINGTON Oct 14 (Reuters) - Representative Barney Frank, chairman of the U.S. House Financial Services Committee, said on Wednesday, the panel will not vote until Thursday on legislation to regulate over-the-counter derivatives.

"We will hold off the votes on this bill until 10 o'clock tomorrow morning," Frank said midway through a Wednesday working session on the bill.

Frank said the committee would move Wednesday afternoon to considering another proposal -- legislation from the Obama administration calling for setting up a Consumer Financial Protection Agency. (Reporting by Kevin Drawbaugh)

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