A senior Democrat on the House Financial Services Committee is pressing regulators to share two years of market data they have collected in connection with the Volcker Rule, a provision of the Dodd-Frank Act intended to rein in banks’ risky trading and investments, the New York Times reported today. Rep. Carolyn B. Maloney (D-N.Y.) sent a letter to regulators yesterday requesting information about certain quantitative trading metrics that the agencies had been collecting since before regulators prohibited banks from making risky bets with their own money last July. “The agencies currently have nearly two years of quantitative trading data, spanning periods both before and after the effective date of the proprietary trading ban,” Maloney said. “I believe that these quantitative trading metrics can provide important information not only about the efficacy of the Volcker Rule, but also about the general trading activities of U.S. banks, and the degree to which these trading activities have changed over the past two years.”
