Sen. Dick Lugar, R-Ind., chairman of the Senate Agriculture Committee, and Sen. Phil Gramm, R-Texas, chairman of the Senate Banking Committee, have announced a hearing to discuss S. 2697, the Commodity Futures Modernization Act. The bill was introduced June 8 by the two chairmen.

The hearing will offer a forum to discuss the legislation, which would reauthorize and reform the Commodity Exchange Act and provide legal certainty for over-the-counter derivatives. Witnesses include members of the President's Working Group on Financial Markets.

WHEN:

10:00 a.m. Wednesday, June 21, 2000

WHERE:

Room 106 Dirksen Senate Building

WHO:

The Honorable Alan Greenspan
Chairman
Federal Reserve Board

The Honorable Lawrence Summers
Secretary
Department of the Treasury

The Honorable William Rainer
Chairman
Commodities Futures Trading Commission

The Honorable Arthur Levitt
Chairman
Securities and Exchange Commission