Groups: Volcker rule could hurt market liquidity and economy

04/19/2012 | Bank Credit News ·

SIFMA and other industry groups wrote a letter to the Commodity Futures Trading Commission, urging it to repropose the Volcker rule. The groups said the costs of the proposed rule "substantially outweigh the benefits." Randy Snook, executive vice president at SIFMA, noted concerns about the rule. "I am particularly concerned with the Volcker rule, which would drastically reduce market liquidity, increase price volatility, increase cost of capital, [and] increase cost of funds for corporate America. This proposal will have far-reaching consequences," Snook said. Read SIFMA's news release regarding the Volcker rule. Read the groups' letter to the CFTC.

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