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Response to Eugene (Original post)

Thu Jun 25, 2020, 07:40 PM

1. U.S. banking regulators ease rules around firm investments, internal trading.

'U.S. banking regulators on Thursday unveiled new rules that will make life easier for large banks with complex trading and investment portfolios.

One rule wraps up a long-running effort by Republicans to overhaul the so-called “Volcker Rule,” clearing the way for banks to make larger investments in riskier vehicles like venture capital funds.

The second relieves banks of having to set aside cash to safeguard derivatives trades between affiliates within the same firm. It gives a win to big global banks that had lobbied for the relief, and the industry estimates it could free up as much as $40 billion in previously reserved cash.

The Federal Deposit Insurance Corporation, Federal Reserve, Office of the Comptroller of the Currency, Securities and Exchange Commission and the Commodity Futures Trading Commission share responsibility for the Volcker rule. The FDIC, OCC and Fed are primarily responsible for the rules on “inter-affiliate” swaps. Each agency is expected to formally approve the changes.'


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