Comment Letter Responding to Financial Stability Oversight Council’s Advance Notice and Request for Comment on Implementation of the Volcker Rule”

November 05, 2010

From: MFA, Richard H. Baker


The Honorable Timothy F. Geithner, Chariman, Financial Stability Oversight Council
Sheila C. Bair, Chariman, Federal Deposit Insurance Corporation; Ben S. Bernanke, Chairman, Board of Governors of the Federal Reserve System; Edward J. DeMarco, Acting Director, Federal Housing Finance Agency; Gary Gensler, Chairman, Commodity Futures Trading Commission
Debbie Matz, Chairman, National Credit Union Adminstration; Mary Schapiro, Chairman, U.S. Securities and Exchange Commission; John Walsh, Acting Comptroller of the Currency

MFA submitted a comment letter to the Financial Stability Oversight Council in response to the Councils advance notice and request for comment on implementation of the so-called Volcker Rule. In the letter, MFA discussed the important role that banks and other financial institutions play as market makers and as providers of distribution platforms for third-party hedge funds. MFA encouraged the Council to implement the Volcker Rule in a way that does not unintentionally impair these important functions.