Monday, December 9, 2013
Important banking news
Rule That Curbs Bank Risk-Taking Nears Approval
Key points:
The rule bans banks from trading for their own gain, a practice known as proprietary trading.
The Volcker Rule also requires chief executives to attest that they have established programs for complying with the rule
http://dealbook.nytimes.com/2013/12/09/regulators-set-to-approve-tougher-volcker-rule/
Approved http://dealbook.nytimes.com/2013/12/10/regulators-vote-to-approve-volcker-rule/?_r=0
http://dealbook.nytimes.com/2013/12/10/war-of-words-over-the-volcker-rule-a-timeline/
Bitcoins
http://dealbook.nytimes.com/2013/12/09/for-bitcoin-square-peg-meets-round-hole-under-the-law/
Goldman Profit Falls 19% on Weakness in Fixed-Income Unit
http://dealbook.nytimes.com/2014/01/16/goldman-profit-declines-19-percent/?ribbon-ad-idx=4&rref=business
Bracing for a barrage of legal settlements for their roles in mortgage practices leading up to the financial crisis, banks have been setting aside cash to fund impending payouts
Vocker Rules
deter banks from making risky bets with their own money
prohibits banks from owning more than 3 percent of a private equity or hedge fund and severely restricts proprietary tradin
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