US Congress committee highlights Volcker rule anomalies

tarullo

Representatives of the five US regulatory agencies tasked with overseeing the implementation of the Volcker rule were criticised during a Congressional hearing for making apparently arbitrary exemptions from the rule's ban on proprietary trading by deposit-taking institutions.

The final version of the Volcker rule, after several turns in recent months, provides exemptions for certain activities from the general ban on deposit-taking banks, engaging in short-term proprietary trading, acquiring or

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