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JPMorgan Chase Rises 2%, Bank stocks reverse higher as regulators ease Volcker Rule

Federal banking regulators eased restrictions on investments that large banks can make today, including the so-called “Volcker Rule,” sending bank stocks surging.

Officials from the Federal Deposit Insurance Commission said on a call that they are loosening the restrictions from the Volcker Rule, allowing banks to more easily make large investments into venture capital and similar funds, and also allowing banks to avoid setting aside cash for derivatives trades between different affiliates of the same firm.

Shares of major banks, including JPMorgan, Citigroup and Morgan Stanley, were trading more than 2% higher for the session following the announcement.

JPMorgan Chase Rises 2%, Bank stocks reverse higher as regulators ease Volcker Rule via @MasterMindUpdate
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