
Agencies Approve Volcker Rule Revision as an Interim Final Rule
The following is the SEC’s press release on the Volcker Rule revision regarding CDOs backed primarily by trust preferred securities, originally available here. The interim final rule and accompanying release is available here.
Five federal agencies on Tuesday approved an interim final rule to permit banking entities to retain interests in certain collateralized debt obligations backed primarily by trust preferred securities (TruPS CDOs) from the investment prohibitions of section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, known as the Volcker rule.
Under the interim final rule, the agencies permit the retention of an interest … Read more