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U.S. regulators say banks have time to sell securities under Volcker [December 20, 2013] WASHINGTON (Reuters) — The U.S. Federal Reserve said on Thursday banks do not need to sell certain securities immediately under the Volcker rule, but instead have until July 2015 to decide if the investments comply with the new rules. |
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Small and midsized banks worried that
collateralized debt obligations backed by trust-preferred
securities were banned by the new rules. Even though the Volcker
rule does not take effect until 2015, some banks said accounting
rules meant they would face losses sooner. Regulators on Thursday sought to clarify that banks can use the
full compliance period to determine which holdings are allowed
under the rules. (Reporting by Emily Stephenson) [© 2013 Thomson Reuters. All rights reserved.] Copyright 2013 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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