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A Hedge or a Bet? Trade Highlights Ambiguity in Volcker Rule
Keywords:
The $2 billion losses at Chase highlights the need for completing the Volcker Rule with language that prevents banks engaging in risky trading activities. Former FDIC chairman Sheila Bair says precise language is needed to clarify the defiinition of hedging after the losses by a single trader's complex hedging bet in London. Individual traders have too much authority in existing trading arrangements to make complicated bets in finanial markets. Large losses were incurred by Swiss bank UBS when an individual trader in London made risky bets in 2011, raising all sorts of questions about the bank's risk management systems.
J.P. Morgan Chase $2 billion trading losses in May 2012, the Volcker Rule and Dodd-Frank legislation
04/10/2012
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Regulatory Headaches Worsen for J.P. Morgan
Wall Street Journal 08/19/2013
Obama Presses Regulators to Finish Financial Rules
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Volcker Rule to Curb Bank Trading Proves Hard to Write
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The Volcker Rule on Bank Risks Approaches Its Final Edits
New York Times 12/03/2013
Regulators Set to Approve Toughened 'Volcker Rule'
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A Hedge or a Bet? Trade Highlights Ambiguity in Volcker Rule
Wall Street Journal 05/12/2012
Problems with the Dodd-Frank U.S. financial reforms legislation
07/16/2010
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Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Obama Presses for Action on Bank Rules
New York Times 08/19/2013
Experts Grade the Financial Legislation
Wall Street Journal 07/16/2010
How Regulators Mess With Bankers’ Minds, and Why That’s Good
New York Times 04/14/2016
Wall Street Journal 02/16/2011
Banks Find Loophole on Capital Rule
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The Volcker Rule in 2011-2012 - implementation of the spirit of the Volcker Rule
07/09/2010
A drafting of the Volcker Rule to ensure compliance to the ideas that motivated former Fed chairman Volcker to suggest the rule.
Grouped Articles
Volcker Plans to Restore Faith in Government
New York Times 05/29/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
Paul Volcker Pushes for Reform, and Regrets His Past Silence
New York Times 07/09/2010
The Volcker Rule on Bank Risks Approaches Its Final Edits
New York Times 12/03/2013
Regulators Set to Approve Toughened 'Volcker Rule'
Wall Street Journal 12/04/2013
New York Times 12/14/2013
Derivatives and the Dodd-Frank financial reform law
04/18/2010
Grouped Articles
Big Banks Get Break in Rules To Limit Risks
New York Times 05/15/2013
Derivatives Reform on the Ropes
New York Times 05/19/2013
New York Times 04/18/2010
Economist 04/29/2010
How Wall Street Gamed Derivatives Reform
BusinessWeek 05/27/2010
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Fomer Fed chairman Volcker's comment letter responds to criticsm of the Volcker Rule in Feb. 2012
07/09/2010
Mr. Volcker says the Volcker rule restricting proprietary trading will make the U.S. financial system safer and healthier. He responds to the objection that it will reduce liquidity and increase borrowing rates by saying that too much liquidity is the problem because financial firms tend to bid up asset prices thinking they can always find a buyer. Some of the complexity in the rule Volcker says, stems from the request from financial firms to define what is and is not proprietary trading. The rle goes into effect in July 2012 under the Dodd-Frank legislation.
Grouped Articles
Barney Frank, Financial Overhaul Defendor in Chief
New York Times 07/21/2011
Volcker Rule Might Just Be Kabuki Theater
Wall Street Journal 10/12/2011
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Obama Presses for Action on Bank Rules
New York Times 08/19/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
Paul Volcker Pushes for Reform, and Regrets His Past Silence
New York Times 07/09/2010
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