So, which is it to be? Liquid bond markets or highly
Maybe it's not that simple, but the bottom line is clear:
banks must now hold bigger buffers. And in the US, the Volcker
Rule has banned proprietary trading. The aim of both
regulations is financial stability. But for many, there's a
significant catch: defining financial stability.
On the one hand, financial stability can refer to safer
banks and financial infrastructure, meaning those institutions