Agencies Delay Action on Foreign Funds Under Volcker Rule

The federal banking agencies announced today that they would defer for an additional two years action related to restrictions for certain foreign funds that may have been unintentionally covered under the Volcker Rule. The delay comes as the agencies contemplate significant reforms to the rule.

ABA continues to advocate for changes that would clarify, simplify, and tailor the Volcker Rule’s regulatory requirements and make them more workable for banks.