24.07.2013 - Biggest banks face Fed restoring barriers in commodities
The Federal Reserve’s review of its decision to let banks store, transport and trade raw materials signals a potential rebuilding of the wall between banking and commerce that legislation and rulemaking have eroded. The central bank said July 19 that it’s reviewing a decade-old decision that physical commodities are “complementary” to banking, allowing lenders such as Citigroup Inc. (C) and JPMorgan Chase & Co. (JPM) to operate in both industries. Goldman Sachs Group Inc. (GS) and Morgan Stanley may be less at risk from the review as some businesses owned before the firms became bank holding companies in 2008 are grandfathered...............................................Full Article: Source
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