American Banker
December 4, 2014
The writers of the Volcker Rule have moved on to other work since the law was finalized last year. Now bank examiners, torn between their current responsibilities and the need to learn numerous new regulations including the Volcker Rule, are left with the daunting task of verifying if banks are in compliance.
This summer, the largest banks in the U.S. started to report quantitative metrics to regulators as required under the Volcker Rule. As an important July 2015 compliance date approaches, bank management should be focusing on the question of whether all five relevant regulators — the Commodities Futures Trading Commission, the Federal Deposit Insurance Corp., the Federal Reserve, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission — are ready to supervise, examine, and enforce the rule in a coordinated manner…Read More