RENTD

Reasonably expected near-term demand. In order for a trading desk’s activities to qualify as permitted market-making activity under the Volcker Rule, the desk’s inventory in financial instruments must be designed not to exceed the reasonably expected near-term demands of clients, customers, or counterparties. Similarly, to qualify as permitted underwriting activity under the Volcker Rule, underwriting activity by a trading desk must not involve such desk taking a position that exceeds the reasonably expected near term demands of clients, customers, or counterparties.