The Final Rule:
- Prohibits banking entities from engaging in proprietary trading, unless
otherwise permitted by the Final Rule.
- Prohibits banking entities from acquiring or retaining any ownership
interest in, or sponsoring, a hedge fund or private equity fund, except to
the extent permitted by the Final Rule.
- Prohibits banking entities from engaging in a permitted activity if (i) it
would involve a material conflict of interest or material exposure to
high-risk trading strategies, or (ii) pose a threat to safety and soundness.
- Provides exemptions for certain permitted activities including, but not
limited to, trading on behalf of customers, trading in government
obligations, market-making activities, risk-mitigating hedging strategies,
and organizing and offering a covered fund including limited investments in
- Provides exclusions from the definition of proprietary trading for certain
activities subject to conditions.
- Provides exclusions from the definition of covered fund, including, but not
limited to, loan securitizations, wholly owned subsidiaries, bank-owned life
insurance, and public welfare investment funds.
Banks (Commercial and Savings)
Chief Executive Officer
Chief Financial Officer
Chief Risk Officer
Street Reform and Consumer Protection Act
Bank Holding Company Act
on Proprietary Trading and Certain Relationships with Hedge Funds and
Private Equity Funds (PDF Help)
Fact Sheet: The Volcker
Rule (PDF Help)
The Volcker Rule: Community
Associate Director, Capital Markets Branch, at firstname.lastname@example.org or (202) 898-6888
Karl Reitz, Chief, Capital Markets Strategies, at email@example.com or (202) 898-6888
Michael Spencer, Senior Policy Analyst, at firstname.lastname@example.org or (202)
Institution Letters (FILs) may be accessed from the FDIC's Web site at http://www.fdic.gov/news/news/financial/2013/index.html.
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/index.html.
Paper copies may be obtained through the FDIC's Public Information Center, 3501
Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).