U.S. finalises Volcker rule, curbing Wall Street's risky trades

U.S. finalises Volcker rule, curbing Wall Street's risky trades
 

The measure known as the Volcker rule was a late addition to the 2010 Dodd-Frank Wall Street reform law and seeks to ensure that banks can't make speculative trades that are so large and risky that they threaten individual firms or the wider financial system.
Banks had hoped to substantially soften the rule, but JPMorgan's (JPM.N) $6 billion trading loss in 2012, dubbed the "London Whale" because of the huge positions the bank took in credit markets, motivated regulators to devise a tough version.
After more than two years crafting the complex reform, five regulatory agencies... read more

 
11 December 2013 in Business, Views: 23
Source: Reuters
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