Volcker Relief Welcome, But Concerns Remain, Industry Says

Law360, Washington (January 15, 2014, 9:02 PM EST) -- A recent interim regulation that largely exempted collateralized debt obligations backed by "trust-preferred securities" from the Volcker Rule was a welcome move, but the financial industry remains concerned about other aspects of the rule, industry representatives told lawmakers Wednesday.

Speaking at a hearing of the House Financial Services Committee, a number of industry representatives praised the decision by regulators Tuesday to issue an interim final rule exempting so-called TruPS-backed CDOs from the Volcker Rule as long as they’re backed by securities created by banks with $15...
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