From the WSJ: Some of biggest banks on Wall Street will get
an additional two years to comply with a post-financial crisis rule requiring
they move risky swap activities into separate affiliates.
The Office of the Comptroller of the Currency said it
granted extensions to seven banks, giving them until July 2015 to comply with
so-called “swaps push-out” rules required by the 2015 Dodd-Frank law….
The OCC notified Bank of America Corp., J.P. Morgan Chase
& Co., Citigroup Inc., Wells Fargo & Co., HSBC Holdings PLC, Morgan
Stanley and U.S. Bancorp that they were granted a 24-month extension in
response to their requests for a longer transition period…..
Read all about it at http://stream.wsj.com/story/latest-headlines/SS-2-63399/SS-2-252118/
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