U.S. President Barack Obama intends to limit the size of banks and trading their own funds to reduce the risks of their activities to the economy.

This

Obama announced today, January 21.

Obama intends to limit the risks assumed by banks. The limit on the size of banks to reduce the prospect of escalation of their business to masshabov threatening the economy of the country. In addition, the measure should protect the freedom of competition in the financial market. But what exactly are Obama"s initiative is still unknown. Since 30-ies. XX century. to 1999 in the United States acted in an act of Glass-Stigela, who shared the banking and investment banking financial companies. At the moment, Congress is considering a law that allows regulators to make large financial institutions to sell units that may threaten the financial system.

Obama"s speech is expected immediately after his meeting with Paul Volcker, the U.S. administration advisor and former board member of the Fed, whose views on the necessary changes in the banking sector are much more stringent than the American Ministry of Finance. In particular, he strongly advocated the imposition of restrictions on trading operations from its own funds of banks (proprietory trading).

"Several months ago, the president began to discuss with his team need to include financial reform clearer and stronger measures to limit the sheer size of financial institutions and their ability to get involved in risk management," - said an administration official. He said the new proposals will include specific restrictions on the volume and complexity of proprietary trading. After that, the administration will work with the Senate to quickly carry out these laws. Most of all, the initiative threatens business Bank of Americadfd, Wells Fargo, and JP Morgan Chase, Goldman Sachs, Morgan Stanley and Citigroup.

In addition, this month the Obama administration announced that major U.S. banks will have to pay the government $ 90 billion over 10 years: this, according to authorities, at least, that banks are required for their salvation from the State.

Recall, 14 January, U.S. President Barack Obama said that Wall Street banks should return to the budget of 117 billion dollars of taxpayers" money, and criticized the banks for the "huge profits and obscene bonuses for companies that exist primarily thanks to the support of the American people . This will put a special fee for the 50 largest U.S. financial institutions, including the U.S. departments of large foreign banks.

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