Stocks Storm Back in the Green After Regulators Ease Volcker Rule
"Stocks Storm Back in the Green After Regulators Ease Volcker Rule Ahead of Stress Test Results"
I'm reading an article on zerohedge.com, that I mysteriously cannot get to on my government computer, and it says that stocks are currently surging as of 10 AM EST when Bloomberg reported that the Office of the Comptroller of the Currency and the FDIC have approved changes to the Volcker Rule, further easing its provisions, and allowing banks to increase their dealings with certain funds by providing more clarity on what's allowed. The OCC also scrapped a requirement that lenders hold margin when trading derivatives with their affiliates, according to Bloomberg.
The Fed is expected to sign off on the proposals later today.
The above statements came from the article. I have no idea what it all means.
Scott Harrison
Senatobia, MS
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