Bank stocks surged after federal regulators on Thursday announced they plan to roll back post-financial crisis restrictions, including the Volcker Rule which prevent banks from making large investments into certain funds.... [+]The Office of the Comptroller of the Currency , Federal Deposit Insurance Corp. and Federal Reserve all approved changes to the Volcker Rule on Thursday.
Wall Street banks will now be allowed to boost their investments in venture capital and similar funds, BloombergThe OCC and FDIC also scrapped a requirement that lenders hold cash on margin when trading derivatives with different affiliates of the same firm, which will let banks pocket billions of dollars that would otherwise be set aside for derivatives trades. estimated $40 billion
for Wall Street banks, according to Bloomberg, though the Federal Reserve still needs to sign off on the move. Shares of major banks soared on the news, leading the market to cut its losses from disappointing unemployment data andJPMorgan and Morgan Stanley saw their stocks rise more than 2%, while Citigroup and Bank of America are both up over 1.5%.The Volcker Rule was originally established as part of the 2010 Dodd-Frank Act, with the aim offrom acting like hedge funds and taking irresponsible risks with their investments.
skleb1234 And no order either, a free fall
skleb1234 No more rules... smh
skleb1234 ENRON. Dow Economy economics MonetaryPolicy wef
skleb1234 This is a move purely based in greed that will have negative consequences down the road.
skleb1234 GRAB A COPY OF A GREAT BOOK, 'The Mafia CEOs', written by Edward E. Sunday. ORDER your copy NOW!! Amazon ebooks
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
These are the best stocks to own for the surge in 'staycations,' says Bank of AmericaNew for subscribers: These are the best stocks to own for the surge in 'staycations,' says Bank of America Check out CNBCPro for a free trial. Pro Bank of America is already fully invested in these stocks. Now they want you to pile in so you can run up the price so they can cash out at higher prices. See how this works? Pro $300 bucks a year for pro that's a ton for some of us. Oh pro must be for the super rich huh?
Source: CNBC - 🏆 12. / 72 Read more »
Bank Stocks Surge As Regulators Ease Volcker Rule, Morgan Stanley Jumps Over 2%U.S. regulators are continuing their push to roll back restrictions instituted in the wake of the 2008 financial crisis. GRAB A COPY OF A GREAT BOOK, 'The Mafia CEOs', written by Edward E. Sunday. ORDER your copy NOW!! Amazon ebooks
Source: Forbes - 🏆 394. / 53 Read more »
Stocks slide lower on Wall Street as coronavirus cases surgeStocks are moving sharply lower on Wall Street after new coronavirus cases in the U.S. hit their highest level in two months Close the Southern border...🤯 WadaJP またドル円101の世界が来ると良いのですが。 The markets are being manipulated as much as possible by the Trump administration. However, with the continued rise of Coronavirus cases the numbers will not hold. The chickens will have finally come home to roost under the abysmal presidency of realDonaldtrump
Source: ABC - 🏆 471. / 51 Read more »
Stocks Fall as Coronavirus Infections SurgeSeveral states reported new daily records of infections, adding to concerns about a second wave of cases around the world that could lead to renewed restrictions on business activity. Ignore covid at your peril. Why you only report Down days ? We see your BIAS. SIT TF DOWN My summer vacation in the Hampton’s is CANCELLED
Source: WSJ - 🏆 98. / 63 Read more »
Stocks open lower on Wall Street as coronavirus cases surgeStocks are opening lower on Wall Street as investors are discouraged to see a surge in new coronavirus cases in the U.S. to their highest level in two months. The S&P 500 fell 0.6% in early... Who saw this coming? Oh yeah: everyone. Everyone saw this coming. The sheeple are about to learn a hard lesson in economics. The illusionary credit system is toast.
Source: AP - 🏆 728. / 51 Read more »
U.S. Stocks Fall as Coronavirus Infections SurgeSeveral states reported new daily records of infections, adding to concerns about a second wave of cases around the world that could lead to renewed restrictions on business activity. Fed policy has made the recession/depression worse. They used 2008 playbook for 2020 crisis. Here it comes. Yeah, I wonder where the second wave is coming from? Here's a map of protests about 3 weeks ago. Vaccine is just months away. Buying oppty.
Source: WSJ - 🏆 98. / 63 Read more »