Blog Post
La cura Volcker puo non bastare
In this column published in the Italian Il Corriere della Sera, Visiting Scholar Ignazio Angeloni argues that the ‘Volcker rule’ (the recent proposal by the US administration to ban proprietary trading for comercial banks) is neither necessary nor sufficient to reduce systemic risks in the financial sector. Risks in recent years have mainly come from […]
In this column published in the Italian Il Corriere della Sera, Visiting Scholar Ignazio Angeloni argues that the ‘Volcker rule’ (the recent proposal by the US administration to ban proprietary trading for comercial banks) is neither necessary nor sufficient to reduce systemic risks in the financial sector. Risks in recent years have mainly come from non-bank intermediaries (hedge funds like LTCM, investment banks, insurance companies). Pridential regulation should be as uniform as possible across types of intermediaries and jurisdictions.
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