Japan Tells U.S. Volcker Rule May Hamper Government Bond Trading
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Japan’s central bank and financial regulator told U.S. authorities that the Volcker Rule restricting proprietary trading would hamper the market for Japanese government bonds, according to a letter released today.
The proposed rule limiting banks’ ability to buy and sell securities for their own accounts would increase the cost of trading Japanese government bonds, the Financial Services Agency and Bank of Japan wrote in the letter dated Dec. 28.