Royal Bank of Canada is considering investing as much as $1bn in a hedge fund spun off from its U.S. proprietary-trading business, according to two people with knowledge of the matter.
Royal Bank of Canada has said it’s still considering alternatives for its U.S. proprietary-trading business as its seeks to comply with Volcker Rule restrictions.
FBN's Charlie Gasparino on problems concerning the Volcker Rule.
The largest banks in the European Union would face a 'narrowly' defined ban on proprietary trading from 2018 under draft plans by Michel Barnier, the EU’s financial services chief.
Bank regulators said Friday that they would consider exempting certain complex securities from the so-called Volcker Rule after community banks sued the agencies, warning of massive losses.
The American Bankers Association said it will file a lawsuit challenging the Volcker Rule unless regulators agree to suspend portions that restrict certain collateralized debt obligations of trust-preferred securities, American Banker reported Monday.
Citigroup has sold its Metalmark Capital private-equity unit to comply with the Volcker Rule.
The Federal Reserve's approval of the Volcker Rule , meant to rein in risky trading in reaction to the financial crisis, sends a clear signal, bank analyst Mike Mayo of CLSA said Tuesday.
A "tougher" Volcker Rule -which limits how banks can trade their own money-being touted around Washington looks to take aim at executives, should the firms have lapses in oversight, according to people familiar with the matter.
Wall Street banks, which already shut proprietary trading units that helped fuel record profits, are girding to learn next week how much revenue the Volcker rule may cut from the $44bn they say comes from market-making.