April 15, 2015
FDIC’s Hoenig: Blanket Small Bank-Exemption from Volcker Unwise
By Brai Odion-Esene
MNI Deutsche Börse Group, April 15, 2015. All Rights Reserved.
WASHINGTON (MNI) – The vice chair of the Federal Deposit Insurance Corp. Wednesday argued against giving all small banks an exemption from the ban on proprietary trading by traditional banks, commonly known as the Volcker Rule, arguing that it does not impose any added regulatory burdens on smaller institutions.
"A blanket exemption for smaller institutions to engage in proprietary trading and yet be exempt from the Volcker Rule is unwise," Thomas Hoenig said in remarks prepared for delivery at the Levy Institute’s Hyman Minsky conference in Washington.
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