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02 August 2017

BBC: US regulator mulls banking rule reform


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The Office of the Comptroller of the Currency said it was seeking views on revising the Volcker Rule, which stops banks trading with their own money.


The Trump administration has called for "significant changes" to the rule, which they say hampers banks' growth.

But critics say diluting it would make the financial system less safe.

The acting Comptroller of the Currency, Keith Noreika, said voices from across the political spectrum had called for the law to be made clearer.

"A bipartisan consensus has emerged that the Volcker Rule needs clarification and recalibration to eliminate burden on banks that do not engage in covered activities and do not present systemic risks," he said. [...]

Full article on BBC



© BBC - British Broadcasting Corporation


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