FRB Gives Banks Five Years to Comply With Volcker Rule Limits

On Monday, December 12th, the Federal Reserve Board (FRB) announced additional details regarding how U.S. banks can apply to take five more years to comply with the Volcker Rule, one of the most complex regulations to emerge from Dodd-Frank. The FRB said it can “provide up to an additional five years to conform investments in certain legacy illiquid funds where the banking entity had a contractual commitment to invest in the fund as of May 1, 2010.” It was the last conformance period extension following three one-year extensions, the FRB added.

If you would like to join SFIG’s Volcker Task Force, please contact Alyssa.Acevedo@sfindustry.org.

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