The US House of Representatives Financial Services Committee recently passed a revised Financial CHOICE Act for discussion. This is the big Republican plan for repealing/replacing Dodd-Frank rules, including the proposed off-ramp for banks to get rid of OTC derivatives rules and accept a 10% Leverage Ratio (with no RWA). Following our deep dive into the original CHOICE Act in January 2017, we provide here a review of the updated proposal.
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