Third, because the Volcker Rule includes a statutory exemption for proprietary trading in U.S. government debt securities, but not in foreign sovereign debt securities, several constituencies have raised concerns regarding this asymmetry.
4  BIS Review 43/2002  The run-up to an enlarged Europe also is an opportunity to stress what I would call two core principles for the functioning and the strategy of the Eurosystem. 4. Independence  In Europe, independence is a quite recent principle. Today it is also acknowledged that it is an indisputable one.