The Volcker rule, which calls for outright bans on proprietary trading and banks's investment in hedge funds, is reportedly being watered down, as lawmakers in the US Congress's two houses race against the clock to arrive at a compromise.
Reuters, a newswire, on Wednesday said it had seen a Senate proposal that will allow banks to invest up to 2% of their total tier one core capital in hedge funds and private equity funds. Lawmakers are reportedly calling also for a 3% tier one cap on investment
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