Revising Volcker could be a particularly drawn out process because five different agencies must sign off on any tweaks -- the Fed, SEC, FDIC, Office of the Comptroller of the Currency and Commodity Futures Trading Commission. For comparison, Volcker itself wasn’t approved until three years after its inclusion in the 2010 Dodd-Frank Act.
“A final rule in 2018 is no sure thing,” Capital Alpha’s Katz wrote in his note.
This article was provided by Bloomberg News.