Paul Volcker
Top US economic adviser Christina Romer quits
Chair of US President’s Council of Economic Advisers Christina Romer resigns, citing family reasons; thought to be interested in Janet Yellen’s post at San Francisco Fed
Dodd-Frank starts to bite as Obama signs bill into law
US President Barack Obama draws a line under year-long legislative process, hailing bill’s benefits to consumers; ratings agencies flustered by exposure to ‘expert liability’
Volcker philosophical on weakened rule, reform bill
Former Fed chairman Paul Volcker says failure to include dollar limit on banks’ positions in hedge funds “disappointing”, but accepts need for political compromise
Volcker should chair FSoc
Aspects of the Dodd-Frank Act are welcome but crises will continue to be mismanaged, Robert Pringle writes.
Richmond Fed raises the curtain on the “Fed Experience”
Richmond Federal Reserve gears up for opening of its new permanent exhibit; features interactive displays and commentary on major economic events from Ben Bernanke, Paul Volcker
Cleveland Fed: Fed’s abandonment of FX controls justified
Cleveland Federal Reserve study says Fed was right to stop intervening in foreign exchange markets as it helped stabilise prices in long term
Volcker unhappy with watered down rule: reports
Head of presidential economic advisory board Paul Volcker said to be dissatisfied with cap, rather than ban, on banks’ hedge fund investments; lawmakers forced to scrap $19 billion bank levy
Volcker rule faces dilution as lawmakers haggle: reports
Lawmakers in US Congress thought to be weakening Volcker rule, turning outright bans on prop trading and hedge fund investment into caps; legislation being pushed through to make 4 July deadline
UK Banking Commission proposes adoption of Volcker Rule
Report on banking reform proposes that modified version of Volcker rule be adopted
Volcker rule fails to make approved Dodd bill
Key amendment omitted; Fed gains powers but will face audit in sweeping regulatory reform
Europe to place CDS markets under spotlight: Barnier
European commissioner Michel Barnier says legislation in works requiring credit default swaps to be registered and made fully transparent; follows criticism of investors from European leaders
The Volcker Rule: wrong answer or the right question?
The Volcker Rule recognises that the structure of the banking system needs to change. For that it should be supported, says Michael Taylor
Volcker dismisses prop trading criticism
Former Federal Reserve chairman Paul Volcker sweeps aside concerns that banks might not be able to differentiate between trading on their own books and on clients' behalf
Fed extends streak, keeping state bank oversight
US Senate amends Dodd bill, allowing Fed to keep supervision of state banks, vote hailed by Kansas Fed chief Thomas Hoenig
Central bankers split on raising inflation targets: poll
CentralBanking.com poll shows a slim majority think raising targets to 4% is a bad idea, while nearly 44% approve to some extent
Abandon your ‘furious’ lobbying: Obama to banks
Obama warns banks’ lobbyists off descending on the Hill; laments Republican attacks
Fed chiefs unite in bid to keep wider bank supervision
Current Fed chairman Ben Bernanke and former head Paul Volcker say taking all but the biggest banks away from the central bank would be a mistake
Senators table Volcker rule legislation
Bill would ban prop trading for large banks and impose limits for big non-banks
Buba’s Weber dismisses Volcker rule
Bundesbank president Axel Weber says Paul Volcker’s plan will have unanticipated effects and interfere with monetary policy transmission, says sticking with Basel II is best
Volcker lambasts higher inflation targets
Former Fed chairman Paul Volcker calls the suggestion that inflation targets should be raised to about 4% “nonsense”; points to the difficulties of the 1980s
We won’t ban prop trading: British Lord
British business secretary Peter Mandelson says Volcker rule is “too difficult” even as Washington works to turn it into law
FSA’s Turner queries faith in deep and liquid markets
Britain’s top regulator calls for a conservative approach to liquidity, arguing that excessive financial activity is liable to do more damage than good
BIS’s Caruana: central banks up to stability task
Bank for International Settlements’ Jaime Caruana says crisis highlighted the prominent role central banks should have in financial stability policy