Volcker Rule May Impact Banks in Germany, U.K., France, EU Says
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Michel Barnier, the European Union’s financial services chief, said a proposed U.S. ban on proprietary trading may cause problems for banks in some of the largest economies in Europe.
The so-called Volcker rule, named for former Federal Reserve Chairman Paul Volcker, was included in the U.S. Dodd-Frank Act to restrict risky trading at banks that operate with federal guarantees.