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ICBA asks regulators to expand Volcker Rule TruPS fix
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Banking, Volcker Rule
Wednesday, March 5, 2014
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The Independent Community Bankers of America commended regulators for issuing an interim final rule that prevented many smaller institutions from having to immediately write down certain investments under Dodd-Frank’s Volcker Rule. However, the group said in a comment letter that regulators should broaden the interim final rule’s exemption regarding investments in collateralized debt obligations backed primarily by trust-preferred securities and issue guidance on what constitutes an “ownership interest” in a “covered fund” for the purposes of the Volcker Rule. Read on for the details.
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