Bill Foster said "This 5 percent limitation means that any well-capitalized small bank that decides to invest in tradeable assets could take 100 percent losses on its trading positions without becoming insolvent and without threatening the Deposit Insurance Fund. So there is no gambling with taxpayer funds involved here. Mr. Speaker, I urge you to support a stronger Volcker rule by bringing greater efficiency and transparency to the policy formulation and greater consistency to implementation and enforcement. I thank, again, the ranking member for yielding me the time, and I urge a ``yes'' vote on the final passage of H.R. 4790, the Volcker Rule Regulatory Harmonization Act." @ PoliticalQuotes.com

On the recordApril 13, 2018

This 5 percent limitation means that any well-capitalized small bank that decides to invest in tradeable assets could take 100 percent losses on its trading positions without becoming insolvent and without threatening the Deposit Insurance Fund. So there is no gambling with taxpayer funds involved here. Mr. Speaker, I urge you to support a stronger Volcker rule by bringing greater efficiency and transparency to the policy formulation and greater consistency to implementation and enforcement. I thank, again, the ranking member for yielding me the time, and I urge a ``yes'' vote on the final passage of H.R. 4790, the Volcker Rule Regulatory Harmonization Act.

Said by

Bill Foster

Democratic · Illinois

Source

govinfo.gov

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