\volcker rule\ on us banks not ready for july
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

'Volcker Rule' on US banks not ready for July

Arab Today, arab today

Arab Today, arab today 'Volcker Rule' on US banks not ready for July

Washington - AFP

The so-called "Volcker Rule" which aims to halt banks from speculative trades in their own accounts -- an issue that fed the financial crisis -- won't be ready by a July deadline, the US central bank chief said Thursday. Speaking at a congressional hearing, Federal Reserve chairman Ben Bernanke told legislators that the regulation would not be ready by the target date for implementation of July 21. "We will be working as quickly and as effectively as we can to get it done," Bernanke said. He noted the opposition from banks and the strong objections to parts of the proposed rule from foreign governments and financial institutions. The rule was a focus of much discussion at last weekend's Group of 20 meeting in Mexico City. Japan, Britain, Canada, the European Union and other countries have expressed worries that it would penalize their banks and also reduce liquidity in the markets for their sovereign bonds. "We take this very seriously," Bernanke said of the complaints. "We are in close discussions with those counterparts and of course we will be looking carefully if changes are needed and we will do what is necessary." The rule, named after former Federal Reserve chairman Paul Volcker, is part of sweeping post-crisis reforms aimed at preventing another meltdown of the financial sector. It will forbid banks from actively trading their own accounts to boost profits -- the so-called proprietary trade. But one exception mapped out would be for active trade in US Treasury bonds -- but not government bonds from other countries.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

\volcker rule\ on us banks not ready for july \volcker rule\ on us banks not ready for july

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

\volcker rule\ on us banks not ready for july \volcker rule\ on us banks not ready for july

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday