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ARTICLE · 28 AUGUST 2019

Amendments To Volcker Rule Regulations

Morrison Foerster
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On August 20, 2019, the Office of the Comptroller of the Currency ("OCC") and the Federal Deposit Insurance Corporation ("FDIC") approved a final rule (the "2019 Final Rule")

United StatesFinance and Banking
Henry Fields
Henry Fields
Julian Hammar
Julian Hammar
Oliver Ireland
Oliver Ireland
Mark Sobin
Mark Sobin
Jiang Liu
Jiang Liu
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On August 20, 2019, the Office of the Comptroller of the Currency ("OCC") and the Federal Deposit Insurance Corporation ("FDIC") approved a final rule (the "2019 Final Rule")1 to amend the rules implementing Section 13 of the Bank Holding Company Act of 1956 (the "Volcker Rule"). It is expected that the other three federal agencies responsible for implementing the Volcker Rule (together with the OCC and FDIC, the "Agencies") will approve the 2019 Final Rule in the coming days.2

The 2019 Final Rule will be effective on January 1, 2020. However, banking entities3 will not be required to comply with the 2019 Final Rule until January 1, 2021 (the "Compliance Date").  Prior to the Compliance Date, banking entities may voluntarily comply, in whole or in part, with the 2019 Final Rule.4

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Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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