Lessons from the implementation of the Volcker Rule for banking structural reform in the European Union
In the United States, on April 1, 2014, the set of rules commonly known as the Volcker Rule, prohibiting proprietary trading activities in banks, became effective. The implementation of this rule took more than three years, as proprietary trading is an inherently vague concept, overlapping strongly with genuinely economically useful activities such as market-making. As a result, the final Rule is a complex and lengthy combination of prohibitions and exemptions. In January 2014, the European Commission put forward its proposal on banking structural reform. The proposal includes a Volcker-like provision, prohibiting large, systemically relevant financial institutions from engaging in proprietary trading or hedge fund-related business. This paper offers lessons to be learned from the implementation process for the Volcker rule in the US for the European regulatory process.
|Date of creation:||2014|
|Contact details of provider:|| Postal: Theodor-W.-Adorno-Platz 3, D-60323 Frankfurt am Main|
Phone: +49 (0)69 798-30080
Fax: +49 (0)69 798-30077
Web page: http://safe-frankfurt.de/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Arnoud W. A. Boot & Lev Ratnovski, 2016.
"Banking and Trading,"
Review of Finance,
European Finance Association, vol. 20(6), pages 2219-2246.
- Arnoud W.A. Boot & Lev Ratnovski, 2012. "Banking and Trading," IMF Working Papers 12/238, International Monetary Fund.
- Arnoud W.A. Boot & Lev Ratnovski, 2012. "Banking and Trading," Tinbergen Institute Discussion Papers 12-107/IV/DSF42, Tinbergen Institute.
- Boot, Arnoud W A & Ratnovski, Lev, 2012. "Banking and Trading," CEPR Discussion Papers 9148, C.E.P.R. Discussion Papers.
When requesting a correction, please mention this item's handle: RePEc:zbw:safewh:13. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.