(Bloomberg) U.S. banking industry groups are pressing regulators to clarify accounting for certain securities under the Volcker Rule after lenders complained the Dodd-Frank Act measure may force them to take writedowns.
Community and regional banks would have to take losses at the end of this year because of a provision in the rule limiting their ability to hold collateralized loan obligations and collateralized debt obligations, Independent Community Bankers of America President Camden Fine said yesterday.
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