Volcker rule
FSB warns of spillovers from new bank structures
Regulators in other jurisdictions fear potential knock-on impact from Liikanen, Vickers and Volcker reforms to bank structure
Volcker questions remain as metric reporting begins
US banks with more than $50bn in assets will be required to report trading metrics to regulators from July 1, but confusion remains around hedging and market-making exemptions
US banks get stay on Volcker rule
The Federal Reserve has given banks until July 2017 to shed investments in collateralised loan obligations, potentially saving them millions of dollars
Carney-led FSB aims at international regulatory convergence
As systemically important banks internalise tougher regulatory environments, cross-border divergence in regimes may diminish, says FSB chair Mark Carney
US Congress committee highlights Volcker rule anomalies
Fed's Tarullo among regulators grilled by US Congress over apparently arbitrary exemptions to the Volcker rule
Liikanen says 'Barnier rule' will allow for international regulatory convergence
Finland governor whose recommendations formed the basis of European bank reform notes that commissioner Barnier's proposals are closer to the 'Volcker rule'
Dombret questions benefit of breaking up banks
Doubts that separation between investment and commercial banking would ensure that lenders can fail 'without disrupting the system'; says 'pure commercial banks' were at centre of crisis
Federal agencies finalise Volcker rule exceptions
The Federal Reserve, FDIC and other agencies agree on a final version of the Volcker rule to ban proprietary trading and investment fund activities, but with a series of exemptions
Hedge funds caused post-Lehman liquidity crisis, research finds
Staff report from the New York Fed argues the evidence points to hedge funds, rather than dealers, precipitating the post-Lehman liquidity crisis - with implications for rules on prop trading
Volcker rule in its ‘purest form' necessary to curb derivatives speculation
Under pressure from banks and hedge funds, the definition of ‘hedging' in the final Volcker rule could be so broad as to allow unchecked speculation dressed up as hedging, Vembar Ranganathan argues
Volcker rule is driving reluctance to hold risk, warn currency managers
US banks are holding less risk as they prepare for the requirements of the Volcker rule, leading to more short-term volatility and less liquidity in some currencies
BIS researchers fear separation rules could make banks harder to resolve
Recommendations from Vickers, Volcker and Liikanen examined in new paper focusing on implications for global banking business models
Disjointed regulation could spell end of global banking era
Report says global banks must move faster with reform if their global operations are to weather the 'balkanisation' of financial markets caused by mismatching regulation between jurisdictions
Goodhart argues bail-outs are better than bail-ins
LSE panel highlights unintended consequences of new regulation, in areas including bail-ins, capital requirements and banking separation; Charles Goodhart says investors will not buy bail-inable debt
Volcker warns of ‘permeable’ Vickers ring fence
Paul Volcker tells a UK parliamentary committee the Vickers ring fence has loopholes that will be widened over time by banks; says bad culture in trading arms ‘infected’ retail banks
Liikanen review calls for ring-fencing of banks’ investment arms
Report on reforming structure of EU banking system recommends separating investment arms from retail operations for banks with large trading operations
Fed governor explains dissenting vote on Volcker Rule implementation
Sarah Raskin justifies her vote against Volcker Rule implementation; argues rule’s provisions unlikely to have significant impact on liquidity
JP Morgan losses will be considered in Volcker rule finalisation, says Fed official
General counsel of the Federal Reserve says new comments have been received regarding the Volcker rule since JP Morgan losses were revealed; views will be considered as rule is finalised
Fed’s Tarullo calls Dodd-Frank reforms a 'formidable task'
Daniel Tarullo examines Dodd-Frank Act financial reforms; says implementation remains a “formidable task”
ECB paper examines pre-Volcker monetary policy
Working paper sets out dynamic general equilibrium model to analyse Federal Reserve monetary policy; finds Fed policy pre-Volcker was more effective than widely thought
JP Morgan loss flags shortcomings of Volcker rule
Questions raised after chief executive claims new regulation would not have prevented the risky trades that caused JP Morgan to lose $2 billion; first version of regulation may have, says Caprio
Deputy governor renews Bank of Japan attack on Volcker rule
Kiyohiko Nishimura reiterates Bank of Japan’s concerns over unintended consequences of Volcker rule; says “prudent assessment” of potential impact of the rule on other countries is “crucial”
Goodhart hits out at current macro-prudential focus
Economist Charles Goodhart agrees with Robert Pringle that risk and return incentives need to change at banks to ensure future financial stability. But permitting failures is a step too far
Volcker rule will not be ready for July, Fed chair admits
Expert predictions of delayed start date proven correct