Volcker rule
Japan nervous of implications of Volcker rule
Bank of Japan releases letter sent to US officials outlining impact of changes to speculative trading controls; fears Japanese government bond market will be hit
IMF paper assesses supervisory burden of regulatory overhaul
Fund study says US Volcker rule and UK retail ring-fencing proposals must be complemented with supervision of bank activities
Volcker rule spillover effects benefited Europe and Asia: IMF paper
Fund study shows Volcker rule caused positive spillover effects to some European and Asian banks
Foreign banks get temporary respite from China’s new ‘Volcker rule’
Foreign banks in China greet decision by China Banking Regulatory Commission to postpone new rules on onshore non-hedging business with relief
Kohn apologises for financial crisis
Former Federal Reserve vice-chairman and external FPC member Don Kohn apologises for failures that led to financial crisis; says FPC will need to ensure new tools are not circumvented by markets
Return to Glass-Steagall essential: Kansas City Fed’s Hoenig
Kansas City Federal Reserve president Thomas Hoenig says reform only scratches the surface without basic separation of investment, commercial banking activity for biggest banks
Volcker steps down as economic adviser to Obama
President Obama announces departure of former Fed chair Paul Volcker from Economic Recovery Advisory Board; appoints General Electric's Jeff Immelt as head of new Council on Jobs and Competitiveness
FSoC draws up Volcker rule plan
Financial Stability Oversight Council recommends rules to expand scope, force disclosure of permitted hedge fund investment
Fed issues guidelines on Volcker rule enforcement
Federal Reserve guidelines cover aspect of rule that extends compliance period to firms regulated by the central bank
Banks could circumvent Volcker rule by gaining hedge fund exposure synthetically
Volcker rule may contain loophole that allows banks to invest in hedge funds
Senators call for 'vigorous' enforcement of Volcker rule
Carl Levin and Jeff Merkley urge FSoc to follow “statutory intent” of rule to limit proprietary trading; define key terms and supervisory approach
IMF: post-Volcker monetary policy effective
Fund study find monetary policy has had just as much impact on output in the United States post-Volcker
Prop trading restrictions already hurting liquidity, say investors
Restrictions on bank proprietary trading have caused liquidity to fall in both the cash and derivatives markets, forcing buy-side participants to adopt alternative investment strategies
JP Morgan slashes commodity desks
Fate of other prop desks unclear ahead of enactment of Volcker Rule
Interview: Donald Kohn
Blair Baker talked to Donald Kohn on 9 July about his career at the Federal Reserve, monetary policy, the crisis and the future of financial regulation.
FDIC’s general counsel resigns
Federal Deposit Insurance Corporation general counsel Michael Bradfield becomes second high profile figure to leave this week
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.
Interview: Sanusi Lamido Sanusi
The governor of the Central Bank of Nigeria discusses banking reform, the Volcker rule, and the role of lenders in society
EXCLUSIVE: Nigeria to cut out universal banking
Nigerian governor Sanusi Lamido Sanusi says new guidelines similar to Volcker rule will prohibit lenders’ engagement in non-banking activities; takeover deals for bailed out banks near completion
EXCLUSIVE: Nigeria’s Sanusi explains banking sector bloodletting
Nigerian central bank chief Sanusi Lamido Sanusi explains why he had to “decimate” opposition to his sweeping bank reforms; says Volcker rule poses no conflict with the true task of banks
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