On 12 June 2014, the OCC announced that it is issuing interim procedures for examiners to assess banks' progress in developing a framework to comply with requirements of section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (commonly known as the "Volcker Rule") and the implementing regulations adopted by the OCC with the other rule-writing agencies. The procedures emphasize identification of activities subject to the rule, assessment of banks' progress toward establishing their compliance programs, evaluation of banks' plans for conforming covered fund securitization, asset management, and sponsorship activities, and banks' progress in being able to report quantitative metrics.
The full text of the OCC interim examination procedures is available at:
http://www.occ.gov/news-issuances/bulletins/2014/bulletin-2014-27a.pdf.
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