“This is where the money is. It’s not the push-out rule. … I’ve always believed the big focus is the Volcker Rule,” said Mayra Rodríguez Valladares, managing principal at MRV Associates. “Do I think the banks are going to be pushing as much as they can to make revisions or at least delaying [the rule more]? Absolutely.”

“The delays are also about the banks being unprepared to implement the rule,” Valladares said. “All of these banks have a diversity of problems. It’s not that all of them have the same exact problem.”