A proposal by the Federal Reserve Board, FDIC, Office of the Comptroller of the Currency, SEC and CFTC to revamp the Volcker Rule was published in the Federal Register.
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The Federal Reserve Board, FDIC, OCC, SEC and CFTC adopted amendments to the Volcker Rule "covered funds" provisions.
The Federal Reserve Board, FDIC, OCC, SEC and CFTC stated that they will consider comments submitted past the deadline on a proposal to amend the Volcker Rule's "covered funds" provisions.
A Federal Reserve Board, FDIC, OCC, SEC and CFTC final rule amending the "covered funds" provisions of the Volcker Rule was published in the Federal Register.
At a Financial Stability Oversight Council meeting on June 11, 2021, Federal Reserve Board Vice Chair for Supervision Randal K. Quarles encouraged the move toward the Secured Overnight Financing Rate and warned banks that the use of USD LIBOR quotes available after December 2021 for new products would create safety-and-soundness risks.