Bair: Volcker Rule Study Aims to Provide Clarity to Markets

Tuesday, 18 Jan 2011 08:42 AM

 

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Federal Deposit Insurance Corp. Chairman Sheila Bair said regulators studying the Volcker rule will provide clarity to inform rulemaking on the Dodd-Frank provision aimed in reining in proprietary trading by banks.

“We are trying to provide more clarity to the markets,” Bair said today in an interview on Bloomberg Television’s “Surveillance Midday with Tom Keene” today. “Speculative proprietary trading was a factor in the crisis.”

The Financial Stability Oversight Council, a panel of regulatory-agency heads established under the Dodd-Frank Act, may release a study on the Volcker rule when it meets today. The measure, named for former Federal Reserve Chairman Paul Volcker, bars banks from risking capital by betting for their own accounts.

Bair, a member of the council, said regulators will be looking at whether firms are taking positions that might be deemed proprietary, whether they are making or losing money and whether they are leaving positions exposed.

“I don’t think there will be any surprises in the study,” Bair said.

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