Banks are lobbying for their trading activities related to exchange traded funds to be exempt under the “Volcker rule,” the Financial Times reports.

The Volcker rule, named for former Federal Reserve Chairman Paul Volcker, is designed to restrict proprietary trading by commercial banks that hold deposits. Financial institutions are facing stricter regulation in the wake of the credit meltdown.

Banks are among the so-called authorized participants that make markets in ETFs and help facilitate trading.

“But those activities could fall foul of the proposed Volker rule,” the FT reports.

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