That’s banks doing proprietary trading for their own accounts, which was limited by Dodd-Frank. But have those limitations been effective? Maybe not, at least that is what Jussi Keppo and Josef Korte suggest in their newly published paper: We analyze the Volcker Rule’s announcement effects on U.S. Show More Summary
The push and pull of financial regulation continues on Capitol Hill. As part of their ongoing effort to make big banks too dull to fail, the Federal Reserve wants to take the Volcker Rule a step further by putting an end to merchant banking (the practice whereby banks purchase stakes in companies rather than lending them money). Show More Summary
Representative Carolyn B. Maloney requested two years of information that could help inform the debate over the rule’s impact on the financial system.
Guys, big banks just need a few more years to figure out how to add more loopholes to financial rule Esteemed Wall Street banks are on their knees asking the Fed for five more years to comply with the Volcker rule, a rule limiting what banks can do with our monies. Originally conceived as part
Wall Street banks are seeking until 2022 to offload investments banned by the rule, but the effort makes them appear to be trying to avoid oversight.
Hey, that "Volcker Rule," can we NOT?
Goldman Sachs, JPMorgan and Morgan Stanley want till 2022 to offload investments banned by the Volcker Rule. They've already had six years to do so, a span when the stock market doubled. Even if the request has merits, it'll encourage harsher scrutiny and talk of more regulation.
Big Wall Street firms like Goldman and Morgan Stanley offer "dog ate my homework" excuses for failure to comply with the Volcker Rule.
(Reuters) - Big Wall Street banks are asking the U.S. Federal Reserve to grant them an additional five-year grace period to comply with a financial reform regulation known as the Volcker rule, people familiar with the matter said. If...Show More Summary
The Board of Governors of the Federal Reserve has extended the deadline for banks to comply with the Volcker Rule for one additional year until July 21, 2017. CLOs under the final Dodd-Frank rules in December 2013 were classified as “covered funds” if they include bonds in their collateral pool. Depository [...]
EVER SINCE THE FINANCIAL crisis, risk--the fuel for Wall Street's astonishing profitability--has been forbidden fruit. The Volcker Rule, for example, means that today the mightiest trading firm, Goldman Sachs, is effectively blocked from proprietary trading. Show More Summary
A few years ago, one way to think about Dodd-Frank, the Volcker Rule and other post-financial crisis reforms was that the biggest banks would break themselves up to avoid the most onerous... To view the full story, click the title l...
Unlike the rest of the U.S. securities industry, the firm controlled by $7.7 bln Leucadia isn’t barred from proprietary trading. So its quarterly results could offer some insight into just how much the Volcker Rule helps or hinders the likes of Goldman Sachs in volatile markets.
The firm’s quarterly results could offer some insight into just how much the Volcker Rule helps or hinders investment banks in volatile markets.
The Volcker Rule is meant to prevent banks from making certain risky bets
Submitted by Daniel Drew via Dark-Bid.com, After the carnage of the 2008 crash, former Federal Reserve Chairman Paul Volcker proposed a rule that would prevent banks from making short-term proprietary trades with financial instruments. Show More Summary
The CFTC wrote most of the rules in the Dodd-Frank Act under the leadership of its former chair Gary Gensler. He was aggressive in writing rules for the $450 trillion swaps market, even if it meant being opposed by fellow regulators...
Elizabeth Warren's concerns about trade deals undermining financial regulations get an unexpected confirmation from Canada.
The market's instincts are correct on this one. There is no reason to pile into GS stock right now.
Recent initiatives like the Volcker rule seek to restrict securities trading by banks. Using German data, this column shows that during the Global Crisis security-trading activities by banks in the secondary market crowded out lending to non-financial firms, but also acted as risk absorbers in the securities market. Show More Summary