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The Volcker Rule

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Goldman cuts investment fund pledges in half since Dodd-Frank-filings

Goldman Sachs Group Inc has slashed its capital pledges to investment funds by nearly half since the Volcker rule was signed into law in 2010, as it prepares its principal investment business for restrictions on investing its own money, according to regulatory filings.The Wall Street bank has reduced future commitments to hedge funds and funds that invest in private equity, credit and real estate, by $5.8 billion since June 2010, the last period before the Volcker rule was included in the Dodd-Frank financial reform act. That represents a reduction of 48 percent, according to data in filings with the U.S. Securities and Exchange Commission.The Volcker rule - which has not yet been finalized or implemented - will prevent banks from investing more than 3 percent of Tier 1 capital in hedge funds or private equity funds, or from contributing more than 3 percent of capital from those funds.Goldman's existing hedge fund and private-equity fund holdings represented 14 percent of its Tier 1 ca...

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  1. JPM Execs Testify on Capitol Hill

    Former FDIC Head Sheila Bair on the latest controversy surrounding the big bank.

  2. Drew Dodges Blame for 'London Whale' Debacle

    Ina Drew, the former JPMorgan Chase & Co executive in charge of the unit that made the disastrous "London Whale" trades that became public last year, told lawmakers ...

  3. U.K. Lawmakers Discourage Proprietary Trading

    U.K. lawmakers on Friday called on Britain's new financial regulator to discourage deposit-taking banks from making risky bets in financial markets with their own mo...

  4. UK Lawmakers Seek to Discourage Proprietary Trading

    U.K. lawmakers on Friday called on Britain's new financial regulator to discourage deposit-taking banks from making risky bets in financial markets with their own mo...

  5. U.S. Senate: JPMorgan ignored risks, fought regulators

    JPMorgan Chase & Co ignored risks, misled investors, fought with regulators and tried to work around rules as it dealt with mushrooming losses in a derivatives portf...

  6. Emails show JPMorgan tried to flout Basel rules: U.S. Senate

    JPMorgan Chase & Co risk managers tried so hard in 2012 to get around international capital rules that they viewed their own discussions as too sensitive for email, ...

  7. Senate report blames senior JPMorgan management in Whale losses

    Senior managers at JPMorgan Chase & Co , including Chief Investment Officer Ina Drew, were told for months about the bad derivatives bets that ended up costing the b...

  8. Senate Report: JPM CIO Unit Misled Investors

    In losing more than $6 billion in "huge" and "risky" derivatives trades last year, JP Morgan Chase (NYSE:JPM) manipulated derivatives values to hide losses, misinfor...

  9. Goldman leads decline as Wall Street commodity revenues plummet

    Wall Street commodity revenues crashed last year to their lowest on record, as tighter regulation and limited price swings squeezed the once dominant traders of Gold...

  10. M&T Bank CEO Wilmers Rails Against 'Astronomical' Banker Pay

    M&T Bank Corp.'s (MTB) Chief Executive Robert Wilmers railed against the "astronomical" pay of his fellow bank executives, calling on them to rein in their compensat...

  11. Will the Fed’s Stress Test Create Bank Volatility?

    Columbia Law School professor John Coffee on his predictions regarding the Fed’s stress test and bank volatility.

  12. Volcker urges progress on namesake trading ban

    A fragmented regulatory landscape and obstruction by lobbyists are to blame for a lack of progress in banning banks from betting with their own money, Paul Volcker s...

  1. Exclusive: Goldman's special situations group names new global head

    Goldman Sachs Group Inc has named Julian Salisbury to become head of its Global Special Situations Group, as current head Jason Brown retires, according to memos sen...

  2. SEC Proposes Easing Overseas Swaps Rules

    The Securities and Exchange Commission voted unanimously Wednesday to give overseas financial firms more leeway in adhering to their home countries' rules governing ...

  3. U.S. Stock Futures Slip; China, Germany Growth Fears

    U.S. stock index futures drifted lower Tuesday, undercut by global growth fears in the wake of disappointing Chinese and German data as investors await fresh U.S. ho...

  4. Blackstone to Buy Credit Suisse's Secondary PE Unit

    Blackstone Group (BX) said it will acquire Credit Suisse's (CS) secondary private-equity business that was put up for sale at the end of last year partly due to guid...

  5. Analysis: How Goldman's dollar-store bet reaped a fortune

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  6. Goldman registers risky credit fund as publicly traded company

    Goldman Sachs Group Inc has registered a fund that invests in risky credit products as a publicly traded business development company, a way for the bank to avoid so...

  7. Weinstein Says 'Whale' Was a Bet, Not a Hedge

    Boaz Weinstein, a hedge-fund manager who traded opposite J.P. Morgan Chase & Co.'s (JPM) "London Whale," said a Senate report clearly indicates that the losing posit...

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