To promote these aims the proposed mandatory separation includes both proprietary trading and market making as differentiating these from one another would be challenging14 and, if  14  8  See e.g. Duffie (2012): “Market making under the proposed Volcker Rule”. BIS central bankers’ speeches  placed in different legal entities within the same banking group, some natural synergies might be lost.
In this respect, the proposal makes deposit banks somewhat narrower than the definition under the Volcker Rule in the United States. However, an important difference is that the proposed mandatory separation in the EU can take place within a banking group whereas the Volcker Rule prohibits proprietary trading from the entire banking group.