Weekly Global News Wrap Up: Banks to move 9,000 jobs from Britain; JPMorgan urges banks to merge

And US regulators discuss the Volcker rule.

From Reuters: The largest global banks in London plan to move about 9,000 jobs to the continent in the next two years, public statements and information from sources shows, as the exodus of finance jobs starts to take shape. Last week Standard Chartered and JPMorgan were the latest global banks to outline plans for their European operations after Brexit. They are among a growing number of lenders pushing ahead with plans to move operations from London.

From Bloomberg: JPMorgan Chase & Co. has some advice for regional banks: A deposit drain is coming, so merge while you can. The company’s investment bankers are warning depository clients that they may begin feeling the crunch in December, thanks to a byproduct of how the U.S. Federal Reserve propped up the economy after the financial crisis, according to a copy of a confidential presentation obtained by Bloomberg News and confirmed by a JPMorgan spokesman.

From CNBC: U.S. financial regulators on Monday discussed the Volcker rule governing banks' speculative trading, tackling one of Wall Street's biggest concerns and a sign President Donald Trump's administration is listening to banks' wishes about reforms resulting from the financial crisis. The Financial Stability Oversight Council, chaired by Trump's Treasury Secretary Steven Mnuchin, held a closed-door meeting and then posted a brief statement saying in part it had "discussed efforts to assess the efficacy of the Volcker Rule."