Morgan Stanley Interview Question

Are you familiar with Volcker rule?

Interview Answer

Anonymous

Nov 10, 2018

Section 619 of the Dodd-Frank wall st. reform act. Says that banks can't use customer deposits for their own profit. It basically separates depository banks from investment banks again. Banks were first separated from investment/trading operations from the Glass-Steagall act, but the separation was deemed inappropriate in 1999..... after 2008, it was clear that the rule should still exist.