Irene Dorner, chief executive of HSBC USA, agrees with the frustrations of many bankers that regulators are taking too long to write the rules designed to prevent the next financial crisis.
"Delays in implementing the Volcker Rule - a key provision in the Dodd-Frank Act that will restrict banks' proprietary trading - and the uncertainty surrounding capital rules are draining banks of resources that could otherwise be used to stimulate economic growth, Dorner said at American Banker's Regulatory Symposium here Tuesday," writes American Banker's Alan Kline.
"Changing midway is destructive," Dorner said. "These are the right rules and I think we should see them through." said Dorner.
For the full piece see "Reg Delays Stunting Economic Growth: HSBC's Dorner" (may require subscription).