美国取消沃克尔规则,这有利于银行股

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致敬凯恩斯、索罗斯、利佛摩尔

美国取消沃克尔规则,这有利于银行股。一个快速评论。这是一个非常重大的事件,不过市场一开始疑虑了一下,似乎是已经包含了法案通过的预期。将本来已经平掉的美股多头又加了回去。同时加了ES多头。

Volcker Rule Revamp Takes Shape, Marking Big Win for Wall Street

Revamp has been a top goal of regulators appointed by Trump

Changes seek to provide more clarity on what trades are banned

By?Jesse Hamilton?and?Ben Bain

(Bloomberg) –?

Wall Street watchdogs rolled out a long-anticipated overhaul of the Volcker Rule that eases its controversial restriction on banks making speculative investments, wrapping up a top de-regulatory goal of officials appointed by President?Donald Trump.

The changes seek to provide lenders a much clearer picture of what trades are prohibited, giving firms confidence to engage in transactions without fear of violating the rule. The Office of the Comptroller of the Currency approved the revamp earlier Tuesday with?Federal Deposit Insurance Corp.?slated to follow. Three other financial regulators responsible for Volcker are expected to sign off in the coming days.

Read More: Why Push to Redo Volcker Rule Has Traders Salivating

The Volcker rewrite marks a major victory for Wall Street, especially?Goldman Sachs Group Inc., which has lobbied aggressively to weaken the rule for years. But the changes are more marginal than major, raising questions about how much they might revive trading. Without action by Congress, Volcker’s prohibition on proprietary trading — the practice of banks making market bets with their own money — stands. And lenders still face restrictions on investing in private equity and hedge funds.

A response to the 2008 financial crisis, Volcker was meant to address concerns that some bank trading desks behaved like hedge funds before the meltdown, using their firms’ balance sheets to finance risky wagers. Former Federal Reserve Chairman?Paul Volcker, its key advocate, said such trading could sink banks and threaten the broader economy. The rule was included in the 2010 Dodd-Frank Act, with regulators putting it in place three years later.

Exceedingly Complex

Almost since the ink was dry, banks have complained that Volcker was exceedingl

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