Deputy governor renews Bank of Japan attack on Volcker rule


Kiyohiko Nishimura, a deputy governor of the Bank of Japan, on March 5 took a swipe at the US Volcker rule, saying unintended consequences will be caused by the regulatory change.

The Bank of Japan had previously expressed its discontent with the proposed rule. In a letter dated December 28 and released on January 12, Japan's central bank and financial regulator jointly warned of the effect the Volcker rule in the US would have on the market for Japanese government bonds.

The proposed rule

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