Reuters: Regulatory News: Bank of Canada sees flaws with Volcker Rule

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Bank of Canada sees flaws with Volcker Rule Jun 14th 2012, 17:54 MONTREAL, June 14 | Thu Jun 14, 2012 1:54pm EDT MONTREAL, June 14 (Reuters) - The Bank of Canada is concerned about the impact of the proposed U.S. Volcker Rule on its financial markets, bank Deputy Governor Agathe Cote said on Thursday. Canadian authorities have complained to their U.S. counterparts that the Volcker Rule, which limits the ability of banks to make speculative bets with their own funds, will have an impact on Canadian bank activities that pose no threat to the U.S. financial system. Cote also told a business audience in Montreal that her message to Canadians was to be cautious about taking on too much debt because interest rates will eventually have to rise.

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