The Federal Reserve is fining Deutsche Bank for failings related to its forex trading and a breach of the Volcker rule.
The Fed announced it was imposing $156.6 million in fines, with $136.9 million related to the forex breaches and $19.7 million related to the Volcker rule.
The Fed said it found gaps in “key aspects” of Deutsche Bank’s compliance programme for the Volcker rule. Established after the global financial crisis, the rule prohibits insured deposit-taking firms from engaging in prop
- Making the rules and breaking the mould (Allan Meltzer: 1928–2017)
- BoE economists criticise DSGE inflation modelling
- Indonesian deputy Perry on revolutionising monetary and financial policy
- No ‘Taylor rule’ without Meltzer’s support
- Commission should have power to order CCPs to relocate to EU – Cœuré