World Currencies: Latest Currency Rates

Latest Currency Rates
In finance, an Currency Rates (also known as the foreign-Currency Rates, forex rate or FX rate) between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country’s currency in terms of another currency.

For the time being it appears Deutsche's U.S. operations would still be subject to the Volcker rule - the part of Dodd-Frank banking reform that bars banks from making risky trades and investing in hedge funds and has been one of the most contested portions of bank reform by Wall Street - and other soon to be passed regulations. But a further legal maneuver might allow the bank to get around those as well. Worse, because Deutsche still has a U.S. subsidiary it will be able to borrow from the Fed when it gets into trouble, potentially setting up a repeat of the financial crisis when the Fed was forced to extended billions of dollars in cheap loans to Deutsche and other foreign banks in order to stave off a worsening of the credit crunch.

British bank Barclays, which bought the U.S. investment banking operations of Lehman Brothers when that bank collapsed, appears to be making moves to ease it's U.S. capital requirements as well.

"These moves ought to be severely scrutinized by the Fed," says Michael Barr, a former Treasury Department official who helped write the Dodd-Frank legislation and is now a law professor at the University of Michigan. "The Fed needs to fully understand these foreign banks' U.S. operations and the risks they pose to our system."

Deutsche spokesman Dunkin King says, "We always had and will continue to have appropriate capital levels in all our U.S. regulated entities. This action, which does not diminish any of our regulatory oversight allows us to streamline our organizational structure, strengthening an already strong institution."

Latest Currency Rates