US banks at a disadvantage in face of Volcker rule

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US bank holding companies are facing a "competitive balance issue" in light of leaked Volcker rule documentation, according to one legal expert. The leaked document, which has now been officially released, confirms the fears of US bank holding companies regarding the rule's ban on proprietary trading included in the Dodd-Frank Act. "A foreign, non-US bank that has an office in the US that engages in any of the activities subject to the Volcker rule prohibitions will move those operations offs

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