Volcker Rule Summary

Updated 02/03/2020

This summary discusses Section 13 of the Bank Holding Company Act of 1956, also known as the Volcker Rule. First, this summary briefly discusses the purpose of the Volcker Rule. Next, it provides an overview of the background of the Volcker Rule, the implementation of the rule in 2013, and the general structure of the rule. The summary then provides a breakdown of the July 2019 amendments, and the corresponding community bank exclusion. The summary then discusses January 2020 revisions to the Volcker Rule, including the three-tiered compliance approach. Next, the summary details the timing of the revisions to the Volcker Rule, followed by a discussion of the pending changes to the covered funds provisions of the Volcker Rule, proposed in late January 2020. Finally, this summary provides a list of references to the pertinent sources, and an action plan your bank can follow to ensure compliance with the most recent changes to the Volcker Rule.

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