VENTURE CAPITAL POST

Knight Vinke removed a majority of his UBS shares from many investment institutions after his failure in convincing the bank to modify its strategy.

The over 900 pages of preamble and regulations regarding the Volcker Rule appeared to have excluded market-making activities of Wall Street banks, said a Bloomberg report.

Chief executives of major banks and President Barack Obama on October 2 had met and discussed financial repercussions of the government shutdown.

A Reuters report said banks would need to increase their capital by USD155 billion or EUR115 billion in order to comply with the global Basel III accord.

Six US banks led by JP Morgan Chase & Co. and Bank of America Corp. had piled up a total of USD103 billion in legal costs.

The US Federal Reserve conducted a study and saw 18 of the largest banks in the country to be weak in one capital area.

According to analysts, big US banks were caused a multi-billion dollar dent after the selloff in the bond market in the last eight weeks.