OCC bulletin provides guidance on Volcker Rule

This story appeared in Bank Digest.

The Office of the Comptroller of the Currency has released a bulletin providing guidance on the Volcker Rule final rule. On Dec. 10, 2013, the OCC, Federal Reserve Board, Federal Deposit Insurance Corporation, Securities and Exchange Commission, and Commodity Futures Trading Commission issued jointly developed final regulations to implement section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, known as the Volcker Rule. The final regulations were published in the Federal Register on Jan. 31, 2014, and become effective on April 1, 2014. National banks (other than certain limited-purpose trust banks), federal savings associations, and federal branches and agencies of foreign banks are required to fully conform their activities and investments to the requirements of the final regulations by the end of the conformance period, which the Fed has extended to July 21, 2015.