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Democrats at US Fed, FDIC dissent on rollbacks of Volcker Rule, derivatives margin requirements for banks

By Neil Roland ( June 25, 2020, 21:42 GMT | Insight) -- Two US agencies eased post-2008 bank safeguards today over the objections of Democrats concerned that the relief to banks will increase systemic risks during the pandemic. Volcker Rule restrictions on banks’ sponsorship and investment in venture and capital funds were ended by the Federal Reserve and Federal Deposit Insurance Corp., among other agencies. The Fed, FDIC and others also eliminated a requirement that banks collect initial margin from their own affiliates for derivatives transactions with them that aren’t cleared.Two US agencies eased post-2008 bank safeguards today over the objections of Democrats concerned that the relief to banks will increase systemic risks during the pandemic....

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