The federal banking regulators today issued long-expected guidance on the methodology banks can use to deduct investments from tier 1 capital under the Volcker Rule and the Basel III regulatory capital rule. Noting that the deduction of investments in certain Volcker-covered funds could overlap with that under the regulatory capital rule, the agency guidance is intended to clarify the interaction of the two and provide a deduction methodology that will avoid double deductions.
Consumer sentiment falls in April
The University of Michigan Consumer Sentiment Index decreased 8.4% in April compared to the month prior, landing at 52.2, according to final results for the month.