The Federal Deposit Insurance Corp. (FDIC) approved changes at its board meeting June 25 in which the financial federal regulators approved rules modifying the Volcker Rule and the swap margin rule, along with codifying the FDIC’s standards on valid-when-made.
The changes were all supported by the leaders of the FDIC, the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau. The vice chairman of the FDIC, Martin Gruenberg, voted against all three rules.
Read on for details of the changes, along with reaction from the regulators, industry and consumer groups.