facebook
twitter
rss
account
search
search
 

Fed extends debate on Volcker Rule

Dec. 26, 2011 at 3:54 PM   |   Comments

WASHINGTON, Dec. 26 (UPI) -- The U.S. Federal Reserve said it would extend the public comment period on the so-called Volcker Rule until mid-February.

The extension until Feb. 13, adding a month to the public comment period, was granted "to allow interested persons more time to analyze the issues and prepare their comments," the Fed said.

Four federal agencies, the central bank, the Securities and Exchange commission, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency, have a vested interest in the Volcker Rule, named after former Fed Chairman Paul Volcker, who lobbied for the proposal, which became part of the Dodd-Frank Act in 2010.

The rule seeks to limit proprietary trading by banks and prohibits banks from owning private equity funds and hedge funds.

Topics: Paul Volcker
© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
Hershey's new logo launched, compared to emoji poop
2
The 'Home of the Whopper' to keep headquarters in U.S.
3
Canadian media must broadcast official emergency notifications
4
France receives upgraded aerial tanker
5
Kurds raise oil funds for refugees
Trending News
Video
x
Feedback