At Street Feast, Bring Your Own Swaps.

The article discusses regular meetings among large banks including Citigroup Inc., Deutsche Bank AG, and J. P. Morgan Chase & Co. aimed at reducing their exposure to swaps and other derivatives. Motivated by rules from the U.S. Federal Reserve and other regulators that propose higher capital levels for banks, the institutions seek to achieve that, in part, by canceling offsetting derivatives positions amongst themselves.