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Board of Governors of the Federal Reserve System
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Federal Reserve Board of Governors

Joint Press Release

Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency 
Securities and Exchange Commission
For immediate release
December 23, 2011

Agencies Extend Comment Period on Volcker Rule Proposal

Four federal agencies on Friday extended until February 13, 2012, the comment period on a proposal to implement the so-called Volcker Rule of the Dodd-Frank Wall Street Reform and Consumer Protection Act. 

The Dodd-Frank Act requires regulators to implement certain prohibitions and restrictions on the ability of a banking entity and nonbank financial company to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund.  The comment period was extended as part of a coordinated interagency effort to allow interested persons more time to analyze the issues and prepare their comments.  Originally, comments were due by January 13, 2012.

The proposal was issued by the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission. 

Media Contacts:
Federal Reserve Barbara Hagenbaugh 202-452-2955
FDIC David Barr 202-898-6992
OCC Robert Garsson 202-874-5770
SEC John Nester 202-551-4120

 

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Last update: December 23, 2011