Overview

On March 3, 2010, President Obama sent to Congress the Administration's proposed text for the so-called "Volcker Rule," which if enacted into law would both limit the size of U.S. banks and require both U.S. and non-U.S. banks to choose between engaging in commercial banking, on the one hand, or principal activities not related to serving customers, on the other.

For details of the Volcker Rule as initially proposed on January 21 and questions about what it would mean for U.S. and non-U.S. banks, please see our e-Alerts Obama proposal for new restrictions on size and scope of U.S. financial institutions and Questions on the Volcker Rule: the effects on U.S. and non-U.S. banks.

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