Dealers involved in the study included Barclays Capital(BARC.L), JPMorgan (JPM.N) and Goldman Sachs (GS.N), whileasset managers involved included AllianceBernstein, DE ShawGroup and PIMCO. ICE is the only clearinghouse to have started clearing CDS,and has cleared $1.3 trillion in notional volumes on CDSindexes. Other clearinghouses evaluated in the study include thoseoperated by NYSE Euronext (NYX.N), London-based LCH.Clearnet,Frankfurt-based Deutsche Boerse (DB1Gn.DE) and German/Swissexchange Eurex. Among those clearing houses examined in the study were theIntercontinentalExchange Inc (ICE.N), which has a revenuesharing agreement with large CDS dealers for its clearing arm,and the CME Group Inc (CME.O), which has a joint venture withhedge fund Citadel Investment Group. Bank and investor fears that they would lose assets backingderivatives led to runs on Lehman and Bear Stearns, whichhastened their demise. Collateral, which may include cash or securities, is postedagainst derivatives to reduce losses if a counterparty to thetrade collapses.

and Europe, a wide range of legislativereforms could be implemented to enhance the protection ofcustomer margin, and increase the likelihood that such marginwill be successfully transferred or returned to customers," thereport released by the Fed found.The Obama administration is pushing for all "standardized"credit derivatives to be centrally cleared after some clientslost assets backing derivative trades they held with LehmanBrothers when the bank collapsed in September 2008. and Europe to protectclient funds backing credit default swaps in centralclearinghouses, the New York Federal Reserve said on Monday. Market participants conducted a study at the request of theNew York Fed to determine how easily client funds backing CDStrades could be retrieved or transferred to a new clearinghousemember, should a member of any of the six clearinghouses vyingfor business in the U.S or Europe default "In both the U.S. (Adds details, rewrites throughout) Stocks  |  Regulatory News  |  Bonds  |  Funds News  |  ETFs News  |  France By Karen Brettell NEW YORK, July 13 (Reuters) - Large dealers and fundmanagers in the $26.5 trillion credit default swap market haveproposed regulatory changes in the U.S. For the reasons set forth above, investorsshould not place undue reliance on forward-looking statements.NEVSUN RESOURCES LTD.Cliff T. Davis, President & Chief Executive OfficerContacts:Nevsun Resources Ltd.John Clarke(604) 623-4700 or 2009, Market Wire, All rights reserved.-0-.

TheCompany's forward-looking statements are based on the beliefs,expectations and opinions of management on the date the statements aremade and the Company assumes no obligation to update such forward-lookingstatements in the future. Forward-looking statements are statements about the futureand are inherently uncertain, and actual achievements of the Company orother future events or conditions may differ materially from thosereflected in the forward-looking statements due to a variety of risks,uncertainties and other factors, including, without limitation, thosedescribed in the Management Discussion and Analysis of the Company. Forward-lookingstatements are frequently, but not always, identified by words such as"expects", "anticipates", "believes", "intends", "estimates","potential", "possible" and similar expressions, or statements thatevents, conditions or results "will", "may", "could" or "should" occur orbe achieved. Photographs of progress can be found on theNevsun web site at - http:// Company looks forward to progressing Bisha through to production withthe continued full support of the Eritrean Government.Forward Looking Statements: The above contains forward-looking statementsconcerning Eritrean government support, production schedule, details ofthe debt package and payback time, operating costs and costs to projectcompletion, metals price projections and assumptions. A recent updateon the Project itself can be found in the Company's Q1 MD&A and newsrelease dated May 13, 2009. The after tax internal rate ofreturn of the Project, using recent metal prices and including the costof finance, is approximately 54%.The mine is expected to start producing gold in Q3 2010.

Theprojected operating cash costs for gold production are estimated to beless than $230/oz, including royalties. The Project is now more than one third completed, and theforecast cost to complete remains on budget.Endeavour Financial is the Company's project finance advisor.At recent metal prices, the Project is expected to generate enough cashin the first two and a half years to repay all debt facilities, as wellas fund the copper phase mine expansion during the same period. VANCOUVER, BRITISH COLUMBIA, Jul 13 (MARKET WIRE) -- Nevsun Resources Ltd. (TSX: NSU)(NYSE Amex: NSU) is very pleased toannounce that its Bisha Project in Eritrea has received all requiredcredit approvals from the project finance lenders for debt facilitiestotaling $235 million.