Volcker rule could interfere with bank hedging

Former Federal Reserve chairman Paul Volcker

The ban – more commonly known as the Volcker rule – is required under section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and has been the subject of heated speculation since it was first mooted. Some dealers have already moved to disband prop desks, but until the publication of the FSOC study it was not clear how policy-makers would seek to draw a line between proprietary trading and permissible activities such as underwriting, market-making and hedging – all of which

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