Financial Regulatory Forum

Volcker urges U.S. curbs on big banks’ risky trades

February 2, 2010

By Kevin Drawbaugh and Rachelle Younglai

WASHINGTON, Feb 2 (Reuters) – White House economic adviser Paul Volcker urged Congress on Tuesday to rein in risky investing by big banks to prevent them from becoming “too big to fail.”

Trading curbs should apply to all banks – U.S. Treasury’s Wolin

February 2, 2010

WASHINGTON, Feb 2 (Reuters) – Commercial banks should not be allowed to establish or maintain a separate trading desk, capitalized with their own resources and unrelated to customer business, a top U.S. Treasury official said on Tuesday.

US bank regulator: proprietary trading not at core of crisis

February 2, 2010

WASHINGTON, Feb 2 (Reuters) – The regulator of the largest U.S. banks said on Tuesday that proprietary trading was not at the root of the financial crisis and warned that excessive limits could impair some of banks’ central functions.

U.S. bank trading plan could create loopholes – EU official

February 1, 2010

By Huw Jones

LONDON, Feb 1 (Reuters) – U.S. President Barack Obama’s plans to curb proprietary trading will be hard to define and could create regulatory loopholes for banks to exploit, a top European Union official said on Monday.

Wall Street hits back at Obama’s bank plan

January 28, 2010

By Martin Howell and Tamora Vidaillet

DAVOS, Switzerland, Jan 28 (Reuters) – Wall Street executives welcomed U.S. President Barack Obama’s plan to create jobs and a softening of his attack on banks, but questioned on Thursday whether proposals in his State of the Union address would become law.

INTERVIEW-UK’s Darling-breaking up banks not the answer

January 28, 2010

By Sumeet Desai

LONDON, Jan 28 (Reuters) – Breaking up banks and going it alone in reforming regulation is not the magic solution to avoiding future crises, British finance minister Alistair Darling told Reuters on Thursday.

US Senate panel to hear from Volcker on bank plan

January 26, 2010

WASHINGTON, Jan 26 (Reuters) – Former Federal Reserve Chairman Paul Volcker is tentatively scheduled to testify next week on the latest White House bank regulation proposals to the U.S. Senate Banking Committee, two Democratic aides told Reuters on Tuesday.