Volcker Rule

The Volcker Rule is, in the text of the statute, section 13 of the Bank Holding Company Act. Section 619 of the Dodd-Frank Act added it¹. In the rule, the funds subject to the prohibition are called "covered funds"².

After the prohibition, the statute lists underwriting, market making, risk-mitigating hedging and other activities as permitted activities. The scope of the prohibition is set by the definition of a banking entity, the definition of the trading account, and the requirements for permitted activities. The details are covered in related articles.

Notes

1. Public Law 111-203, section 619 (124 Stat. 1620 to 1631), adding BHC Act section 13(a)(1). ↩

2. 12 CFR 248.10(b)(1) (eCFR, as of October 1, 2026). ↩