OCC looks to recalibrate Volcker Rule

Author: John Crabb | Published: 15 Aug 2017

The market has welcomed the Office of the Comptroller of the Currency (OCC) request for public comment on the Dodd-Frank Act’s two-year old Volcker rule.  

In the August 1 notice the OCC, one of the five agencies to initially approve the rule in 2010, requested public assistance in 'determining how the final rule implementing section 13 of the Bank Holding Company Act (commonly referred to as the 'Volcker rule’) should be revised to better accomplish the purposes of the statute’.

"I see this action by the OCC as part of a broader recognition that it is time to step back and do a comprehensive review of the rule," said Jim Sivon of counsel at Squire Patton Boggs. "This would be specifically as to its market impact, its safety and soundness, and whether there could be some revisions to it."

Sivon referred to the point made by Federal Reserve...