Details of Fed proposals
Would tailor strictest requirements of the rule to the 4-most active trading banks, relieving smaller lenders
Eases requirements for hedging, market making and underwriting exemptions
Scraps the presumption that short-term trades are proprietary, replaces with accounting test
Eases some restrictions on banks trading with hedge funds and private equity funds
Powell's willingness to do this got him the job as Fed chair. Time will tell how it all works out.
