FSoC draws up Volcker rule plan
The Financial Stability Oversight Council (FSoC), the US macroprudential authority, on Tuesday published a set of recommendations amounting to a call for a robust and stringent application of the Volcker rule.
The rule, written by Paul Volcker, a former Federal Reserve chairman, imposes a bank on proprietary trading by banks, and on owning, sponsoring or investing in hedge funds and private equity funds. Lawmakers watered down the second of these clauses, allowing a restricted level of
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