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Agencies Will Consider Comments on Volcker Rule Modifications Following Expiration of Comment Period

April 02, 2020 / Source: FDIC

Agencies Will Consider Comments on Volcker Rule Modifications Following Expiration of Comment Period

Five federal financial regulatory agencies on Thursday announced that they will consider comments submitted before May 1, 2020, on their proposal to modify the Volcker rule's general prohibition on banking entities investing in or sponsoring hedge funds or private equity funds—known as “covered funds.”

The agencies will continue to consider comments to provide interested persons more time to analyze the issues and prepare their comments in light of potential disruptions resulting from the coronavirus. The proposal asked for comments to be submitted by April 1, 2020.

The agencies will continue to work together on policy issues as the coronavirus pandemic unfolds.

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Media Contacts:

Federal Reserve Board

Eric Kollig

(202) 452-2955

CFTC

Office of Public Affairs

(202) 418-5080

FDIC

David Barr

(202) 898-6992

OCC

Bryan Hubbard

(202) 649-6870

SEC

Office of Public Affairs

(202) 551-4120

FDIC: PR-43-2020