Regulators rethink Volcker overhaul to solve accounting glitch
Bankers urge cancellation of new definition of prop trades that could capture liquidity buffers
US regulators are considering whether to re-propose amendments to the Volcker rule, to tackle industry alarm that a change intended to soften it might end up making it tougher.
The Volcker rule bars deposit-taking banks from engaging in speculative proprietary trading and contains criteria for assessing whether a trade is speculative. Amendments proposed by the five regulatory agencies in May 2018 were designed to ease the application of the regulation and included a new ‘accounting prong’ to
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