Replies to post #10376 on Ripple (XRPUSD)

[WiseYoda]

Its coming as the ball is already in motion....the government is amending the Volcker rule which will give the green light for XRP to be used as part of a bank’s liquidity management activities. The more I read the more Im believing Brad Garlinghouse’s prediction that half of the top 20 banks in the world will actively hold and trade digital assets in 2020.

What is the Volcker Rule? https://www.cnn.com/videos/business/2019/12/09/volcker-rule-dodd-frank-explained-orig.cnn

Amending of the Volcker rule: The final rule has an effective date of January 1, 2020 though compliance is not required until January 1, 2021. 

LIQUIDITY MANAGEMENT EXCLUSION The 2013 Rule excludes from the definition of proprietary trading the purchase or sale of securities for the purpose of liquidity management in accordance with a documented liquidity management plan that meets certain requirements set forth in the rule. However, this liquidity management exclusion is currently limited to the purchase or sale of a security, and does not extend to foreign exchange derivative transactions used by a banking entity for liquidity management. THE FINAL RULE AMENDS THIS LIQUIDITY MANAGEMENT EXCLUSION SUBSTANTIALLY AS PROPOSED, PERMITTING FOREIGN EXCHANGE FORWARDS, FOREIGN EXCHANGE SWAPS and PHYSICALLY SETTLED CROSS CURRENCY SWAPS, AS WELL AS NON DELIVERABLE CROSS CURRENCY SWAPS, IN EACH CASE USED BY A BANKING ENTITY IN ACCORDANCE WITH A DOCUMENTED LIQUIDITY MANAGEMENT PLAN AS PART OF THE BANKING ENTITIES LIQUIDITY MANAGEMENT ACTIVITIES.

Finalized Changes to Volcker Rule
https://corpgov.law.harvard.edu/2019/09/12/finalized-changes-to-volcker-rule/