The US Federal Reserve has confirmed it is in the process of
developing a proposal for public comment that would make
substantial changes to the Volcker Rule regulations.
Speaking at the Institute of International Bankers (IIB)
Annual Washington Conference on March 5, vice chairman
for supervision Randal Quarles – who took office as a
member of the board of governors on October 13 of last year
– discussed how he intends to reduce the regulatory
burden of the much-debated rule, stating his intention to take
into account both the Fed and the market’s
experiences since its implementation.
"We have, with the full cooperation of all five Volcker
regulatory agencies, picked back up the process that was begun
last fall to engage in a rulemaking process subject to the
Administrative Procedures Act and develop a proposal for public
comment that would make material changes to the Volcker rule
regulations," he said. ...