Dick Bove, Rafferty Capital VP of equity research, reacts to the Fed's decision to give banks an extra 2 years to conform to the part of the Volcker Rule that would force them to sell "riskier" forms of debt.» Read More
*Britain's FTSE 100 index is seen opening down 30 to 39 points, or as much as 0.7 percent, according to financial bookmakers. *The UK blue chip index closed up 1.4 percent, or 78.38 points, higher at 5,820.45 points on Monday.
Volcker, architect of the "Volcker Rule" governing so-called proprietary trading by U.S. investment banks, will appear before the commission on Oct. 17 to compare and contrast banking behaviour and practices between Britain and the United States.
tAs regulators put the finishing touches on new rules for Wall Street, they remain entangled in a partisan fight over the overhaul, the New York Times reports.
Although there’s a thin line between hedging and speculating, regulators should crack down if banks are making unusually large profits on their hedging activities, CFTC Commissioner Bart Chilton said.
Soon after lawmakers finished work on new financial regulations, JPMorgan lobbyists descended on Washington. Their goal was to obtain special breaks that would allow banks to make big bets in their portfolios. The New York Times reports.
The Volcker Rule is driving talented traders to leave large, well-known Wall Street investment banks for hedge funds, Reservoir Capital founder Daniel Stern said at the Skybridge Alternatives (aka SALT) investor summit Wednesday.
Charlie Munger, Berkshire Hathaway vice chairman, says he would like to see a stronger Volcker rule. Meanwhile Warren Buffett says that although he doesn't share the same view as strongly, banks should not have a "free hand."
Paul Volcker was Chairman of the Federal Reserve under Presidents Reagan and Carter. But his name is becoming more well-known for a part of the Dodd–Frank reform bill. It's called the Volcker rule, and CNBC explains.
Proposed regulation to prohibit proprietary trading by banks, known as Volcker Rule, could result in higher energy prices and fewer jobs, according to a new study.
When Brookings and bi-partisan support is for a delay, then the forces of nature are lining up against regulators on Volcker.
Regulators in charge of writing the Volcker Rule, which would ban banks from trading with their own money, were inundated with complaints and suggestions from the financial industry. The New York Times reports.
The Securities Industry & Financial Markets Association filed five letters to the Federal Reserve this morning, urging changes to the Volcker Rule. Tim Ryan, president & CEO of SIFMA, discusses.
In the wake of the MF Global bankruptcy, regulators have voted to enforce a new rule requiring brokerage firms to keep their house accounts separate from customer cash, the New York Times reports.
One market watcher says India’s current inflation environment resembles that of the United States in the early 1980s, drawing parallels between India’s current central bank governor Duvvuri Subbarao and Paul Volcker, who had served as Federal Reserve chairman back then.
Goldman Sachs and Morgan Stanley may shed the "bank holding company" classification in order to skirt the Volcker rule banning propriety trading with the firm’s own capital, an analyst says.
Wall Street is bracing for major changes from a new rule that would overhaul how the banking industry conducts its trading. The New York Times reports.
The $2 billion trading loss that has rocked the Swiss banking giant UBS has also cast a spotlight on a relatively unknown but increasingly profitable corner of Wall Street — Delta One desks.
Our intrepid reporter talks to former Federal Reserve Chief Paul Volcker, in town for a benefit for the National Academy Foundation, at the Waldorf Astoria.
Why should Goldman Sachs be "freaked out" by the Volcker Rule, and lobbying hard to debilitate it?
It's hardly surprising that Goldman Sachs wants to be able to deploy the firm's capital to longer term investments.