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Details of Volcker rule set to be unveiled

Dec. 10, 2013 3:33 AM ETCitigroup Inc. (C) StockXLF, IYF, IYG, VFH, RKH, BAC, JPM, GS, C, COF, MS, WFC, USB, BK, KBE, IAT, KRE, RSPF, PFI, UYG, FXO, SEF, FAS, FAZ, RWW, KRU, QABA, PSCF, KRS, KBWB, KBWR, FINU-OLD, FINZ, FNCLBy: Yigal Grayeff, SA News Editor9 Comments
  • A panoply of regulators are due to disclose the details of the Volcker rule this morning and then formally adopt the measures later in the day.
  • The new regulations will ban banks from proprietary trading, and prevent them from owning over 3% of hedge funds and private-equity funds.
  • Banks fear that the rules could cost them billions of dollars by making it more difficult to engage in activities that are permitted under the regulation, such as market-making, underwriting and hedging against risks. Expect the lawyers to go through the proposals to see what could be struck down in court.
  • Tickers: C, JPM, MS, WFC, BAC, COF, GS, BK, USB
  • ETFs: FAS, XLF, FAZ, UYG, KRE, KBE, VFH, IYF, SEF, IAT, IYG, PFI, FXO, KBWB, RKH, QABA, RWW, KRU, FINU, KBWR, RYF, PSCF, FNCL, KRS, FINZ

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