The chief financial officer of one of the world’s largest banks pauses in his run-through of the manifold uncertainties that still cloud the outlook for its US businesses, following the signing into law in July of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or “reg reform” as the CFO, and pretty much everyone else in the industry, calls it.
Rather than list the many unknowns, the CFO says that it’s much easier to itemize the few certainties: the hard limit of 3% of bank capital and 3% of any given fund that banks can invest in private equity vehicles; and the strict limitation on walled-off, segregated proprietary trading.
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