Large banks could benefit from softened "Volcker rule"

Lawmakers, as part of their agreement on financial-reform legislation, softened the "Volcker rule," originally an outright ban on banks' ability to sponsor hedge funds and engage in proprietary trading. The softened rule would allow banks to invest as much as 3% of their own capital in a hedge fund operated for clients or in proprietary trading. Although the 3% limit might seem restrictive, most major banks operate within that range.

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