Last week there were some sketchy news articles on the multi-agency (Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency) report required by the Dodd-Frank Act which highlighted possible financial risks, not covered in Dodd-Frank, which necessitate additional attention.
The Fed wants to limit merchant banking, which is where banks buy an equity position rather than lend money, and bank ownership control of mining, warehousing, and shipping of commodities. The OCC wants to limit Wall Street's investments in industrial metals, such as aluminum and copper.
All recommendations would require legislation and/or rules.
What was missing from the short news articles was a link to the actual Report which I am providing for your better understanding of what was proposed.
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Monday, September 12, 2016
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