when Bank of England finds the (many) holes in the Volcker rule, and doesnt hold back so we can all recall how powerful US finance lobby is
h/t @izakaminska
a reminder that the European Commission went down the same route when it dropped its structural reform of banking initiatives
good morning chart crimes, as PTFs (automated trading) firms may or may not be large players in the gilt market
when (a) banks complain 'regulations is constraining our balance sheet' &
(b) regulators congratulate themselves for reining in shadow banking
show them graph below: banks financing hedge fund leverage via repos.
a lot more on proprietary trading in market-based finance here
bankofengland.co.uk/-/media/boe/fi…
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