Volcker Rule Favors European Investment Banks, JPMorgan Says

European investment banks led by Credit Suisse Group AG and UBS AG may benefit from the so-called Volcker rule that will create opportunities in market-making, JPMorgan Cazenove analysts said.

Limits on U.S. investment banks’ proprietary trading in making markets for clients imposed by the Volcker rule are a “material positive earnings potential for European investment banks,” the analysts, led by Kian Abouhossein, wrote in a note to investors today.