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CLO bill clears U.S. House committee
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Banking, Legislation
Tuesday, March 18, 2014
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The U.S. House Financial Services Committee voted to advance legislation that would address the Volcker Rule’s treatment of certain collateralized loan obligations. Industry stakeholders have argued that the Volcker Rule could harm the CLO market, which is an important source of funding for U.S. companies. They also said CLOs have proven to be a safe investment for many banks, including community banks. The bill, HR 4167, cleared the committee with broad bipartisan support after Republicans agreed to a key Democrat amendment. Read on for the details.
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