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ABA: The American Bankers Association
Statement

ABA Applauds Volcker Rule Reforms

“We appreciate the actions taken today by the FDIC and OCC, which have started the agencies’ process of finalizing sensible reforms to the Volcker Rule that will help banks better serve their customers and the broader economy. These improvements will allow bank supervisors to focus on systemic risk, while providing the tailored and precise oversight that was the Volcker Rule’s original purpose.

“We also applaud regulators for dropping the proposed accounting test, which was overly broad and unworkable. The decision to instead make meaningful improvements to the 60-day rebuttable presumption is consistent with the agencies’ focus on bright-line rules.  We look forward to providing additional input that would simplify and streamline restrictions on covered fund investments while excluding funds that are clearly outside the Volcker Rule’s intent. These further reforms and exclusions will benefit a wide range of bank customers, while improving efficiencies at banks subject to the rule.”

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $18.6 trillion banking industry, which is composed of small, regional and large banks. Together, America’s banks employ more than 2 million men and women, safeguard $14.5 trillion in deposits and extend more than $10.5 trillion in loans.

Press Contact

Jeff Sigmund

(202) 663-5439

Contact Jeff
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