FDIC, OCC Back Volcker Rule Reform Proposal

By Jon Hill (May 31, 2018, 8:47 PM EDT) -- The Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency have signed off on the package of proposed changes to the Volcker rule that were unveiled earlier this week by the Federal Reserve.

The FDIC's board of directors voted unanimously at a meeting Thursday to seek public comment on the proposed changes, which regulators have said are intended to streamline the rule's notoriously complex restrictions on bank risk-taking through, among other things, size-tailored compliance requirements and clarified definitions of key terms.

"The central goal, from my standpoint, is to preserve the core principles of the Volcker rule as...

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