Regulators reportedly looking to roll-back Volcker Rule, giving banks rare leeway on investments
Regulators are trying to make it easier for banks to invest their own money by changing the Volcker Rule, a centerpiece of the legislation in the post-financial crisis bank crack-down, Bloomberg reported Monday.
Most of the major Wall Street banks narrowly beat on earnings this quarter, but uncertainty on trade and economic growth has pushed interest rates down, pressuring net interest margins, the difference between what banks pay on deposits and earn on loans.Spencer Platt | Getty Images The Volcker Rule, enacted under the Dodd-Frank Wall Street Reform and Protection Act, prevented banks from investing their own money in hedge funds and private equity funds.
The regulators are changing the definition of proprietary trading, which is when financial firms make direct investments for direct market gain instead of investing on behalf of clients.
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