Banks Seek To Avoid Volcker Rule "Fire Sale"
By Dave Clarke & Joe Rauch
Published December 7 2011 Reuters
U.S. banks want regulators to give them more time to liquidate investments in certain private equity funds under the Volcker rule, arguing that without more leeway they will have to hold "fire sales." The Volcker rule, a part of the 2010 Dodd-Frank financial oversight law that tries to make the financial system safer, greatly restricts the amount banks can invest in hedge and private equity funds.
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