Ring-Fencing Not Effective, Says Volcker

24 Sep 2012

Ring-fencing U.K. banks’ retail operations from investment banking is a “not terribly effective” way of protecting taxpayers from another financial crisis, says John Volcker, the former chairman of the U.S. Federal Reserve, who proposed a rule to totally separate such operations in the U.S.

Ring-fencing U.K. banks’ retail operations from investment banking is a “not terribly effective” way of protecting taxpayers from another financial crisis, says John Volcker, the former chairman of the U.S. Federal Reserve, who proposed a rule to totally separate such operations in the U.S. Volcker’s comments are seen ...

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