Posted on 12/19/2014 12:20:11 PM PST by Lorianne
The US Federal Reserve has given Wall Street banks even more time to comply with parts of the Volcker Rule, a key provision of the 2010 Dodd-Frank financial reform bill.
The rule prevents federally-insured banks from using their own money when investing in certain risky assets.
It will now grant an extension to other types of funds.
Initially, the Fed had said banks would have until 21 July 2017 to stop trading in collateralised loan obligations, which essentially move the risk of investments in loans off their balance sheets.
(Excerpt) Read more at bbc.com ...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.