Business Review: unintended consequences on the 'Volcker rule'titanium Media Note: The author Jussi Keppo, National University of Singapore school associate professor and co-director of the policy branch MSc (Business Analysis) program. The article mentions the 'Volcker rule' is Obama announced in January 2010 by the President Obama's Economic Recovery Advisory Board Paul Volcker (Paul Volcker), states to prohibit banks from proprietary trading based, proprietary trading and commercial banking separation, which prohibits banks to use to participate in the FDIC's deposit, proprietary trading, hedge funds or private equity funds. As the United States four years ago by the - part of the 'Dodd-Frank Act', the 'Volcker rule' undoubtedly the global financial crisis, the most profound changes occurred in banking regulation. The rules are designed to reduce their reckless adventures by limiting the bank's business model, and limit banks to engage in high-risk activities in order to enhance financial stability. To achieve this goal, the rule prohibiting banks from proprietary trading and limits banks to invest in hedge funds and private equity. Although until next year was only requires full compliance, but the United States affected by the bank holding company has announced major restructuring of its business model, closed proprietary trading desks and Nike Shoes sell share holdings in hedge funds. However, while compliance requirements already announced, but the impact, 'Volcker rule' has probably doubtful, because the final rule has a long list of exceptions. In addition, because the banks can still adventure in many ways, such as increased leverage or risk trading account or bank account, or to reduce the hedge bank accounts, and therefore can not assume trading account or trading account activity reduction will reduce the overall risk of banks. Similarly, regulators may find it difficult to distinguish between activities and licensing rules prohibit activities such as proxy customers to perform transactions, market-making or hedging. Therefore, the affected banks can maintain their overall risk level constant. Based on my co-author Josef Korte it showed that this is indeed the case. Despite the 'Volcker rule' the most influential banks have significantly reduced the transaction more than any other bank account, but there is no corresponding reduction in risk-taking behavior and because of less use of the affected Air Jordan 1 banks to hedge the remaining trading account. Fortunately, the risk of bank accounts has not improved significantly. This may be caused due to the ongoing transactions. Thus, despite the distance of time to comply with the rules it is getting closer, but so far these banks have been able to maintain its overall risk unchanged. In addition, if the Air Jordan 5 Retro purpose of reducing bank risk is where this rule, our study found that the 'Volcker rule' so far has not yet reached its expected Air Jordan 2 results. These effects are not surprising. Banks profit by adventure, because change has not occurred incentive Air Jordan Women adventure, a way to prevent banks if regulators use risk, the bank will use another method adventure. My co-author Sohhyun Chung in another article pointed out that as a 'Volcker rule', and this risk transfer will have unintended consequences: reduce the value of the equity of banks, increase profits of non-compliance. To be fair, 'Implementing Rules' Volcker rule until the final version was released recently, and currently can not be binding on the bank. However, our findings (and banks declare their own compliance) found that there is a serious risk the Volcker rule. Therefore, the US regulators may require further Nike King analysis and implementation of risk unintended consequences that Nike Lunar Haze may exist to ensure that banks increase and subsequently ensure financial stability, especially because 'Volcker rule' on banks and regulators, the price is very Big. (English The Volcker Rule's unintended consequences first published in the National University of Singapore Business School ThinkBusiness website)