276 YES -146 NO . . . WALL STREET WANTS AN ENTIRE RELEASE FROM DODD-FRANK The bill would have allowed banks to hang onto billions of dollars in risky collateralized loan obligations for two additional years by amending the Volcker Rule, which is part of the 2010 Dodd-Frank financial reform law. The rule bans banks from speculating in securities markets with taxpayer funds, requiring them to dump their CLO holdings. A Volcker Rule delay would be a major boon to the nations largest banks. Between 94 and 96 percent of the domestic CLO market is held by banks with at least $50 billion in assets, according to federal regulators, who value the market at between $84 billion and $105 billion.
Posted on: Thu, 08 Jan 2015 16:58:31 +0000
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