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Reuters - Volcker rule liquidity carveout stirs fears of next Whale trade


"Banks are urging U.S. authorities to broaden a little-noticed exemption in the Volcker rule's trading curb that critics say could blind regulators to the next version of the JPMorgan Chase & Co Whale trade.

The forthcoming Volcker rule to curb proprietary trading is one of the most hotly debated measures called for in the 2010 Dodd-Frank financial reform law."....