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Economy
In reply to the discussion: Weekend Economists Stamp Out Ignorance December 27-29, 2013 [View all]xchrom
(108,903 posts)28. European regulators seek prop trading ban for large banks: paper
http://uk.reuters.com/article/2013/12/27/uk-bankregulation-proprietary-idUKBRE9BQ0KB20131227
(Reuters) - The European Commission plans to ban proprietary trading at large banks and may force lenders to ring fence all trading activities deemed a threat to financial stability, Sueddeutsche Zeitung said in its Saturday edition.
Moves to curb so-called proprietary trading seek to end a high-risk trading strategy used by investment banks to place large directional bets on their own balance sheets, rather than on behalf of clients.
Citing a draft proposal of European bank safety rules, Sueddeutsche said European banks would not be required to conform to the new rules until March 2020.
Around 29 banks would be impacted by the ring fencing rules, Sueddeutsche said, adding that smaller financial institutions may still be allowed to continue with such trading strategies.
(Reuters) - The European Commission plans to ban proprietary trading at large banks and may force lenders to ring fence all trading activities deemed a threat to financial stability, Sueddeutsche Zeitung said in its Saturday edition.
Moves to curb so-called proprietary trading seek to end a high-risk trading strategy used by investment banks to place large directional bets on their own balance sheets, rather than on behalf of clients.
Citing a draft proposal of European bank safety rules, Sueddeutsche said European banks would not be required to conform to the new rules until March 2020.
Around 29 banks would be impacted by the ring fencing rules, Sueddeutsche said, adding that smaller financial institutions may still be allowed to continue with such trading strategies.
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