Proposals by the Federal Reserve Board to revamp the Volcker
Rule go further than expected but have been largely well
received as the agency looks to simplify and tailor application
of the Rule without removing its protections too
"It is really a testament to
the agency’s thoughtfulness that they
absorbed the data and experiences they had from
administering the Rule over the last two years, and
took a critical view"
One commentator suggested that the proposals were
far-reaching, but not as bad as they could have been.
"The Volcker Rule is going to be opened up - the question
isn’t whether it should opened up, that is a given
fact, it is about how it is opened up and what comes out," they
They added: "It's acceptable if there is a fair bit of
simplification: certain aspects of this framework - like
presumed compliance -...