United States:
Three Agencies Issue FAQ Regarding CDOs Backed By Trust Preferred Securities Under The Volcker Rule
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On December 19, Fed, FDIC and
OCC issued Frequently Asked
Questions to clarify rules applicable to investments in
covered funds and whether collateralized
debt obligations backed by trust preferred
securities (TruPS CDOs) could be determined to be covered
funds under the Volcker Rule. The FAQs
clarify that banking entities that have holdings in TruPS
CDOs may use the conformance period to
determine if they can be brought into conformance by July
21, 2015.
Release.
FAQ.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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