The US Office of the Comptroller of the Currency (OCC) has said that the Volcker rule will cost the national banks up to US$4.3 billion.
The rule will put an end to proprietary trading by banks and also restricts the banks’ ability to invest in hedge funds and private equity funds.
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According to the regulator, banks with assets worth more than US$10 billion will bear the cost. However, seven smaller banks will also be affected by the rule.
OCC was quoted by the Reuters as saying, "The potential impact of decreased demand on the market value of these assets is between zero and US$3.6 billion."
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