Federal regulators issued a final rule implementing an ICBA-advocated provision of the S. 2155 regulatory relief law exempting most community banks from the Volcker Rule.
The final rule conforms with statutory language exempting community banks that have less than $10 billion in assets and trading assets and liabilities that are no more than 5 percent of total assets.
ICBA has long sought the exemption and expressed support for the agencies' proposed rule in a comment letter earlier this year.
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Read ICBA Comment Letter