U.S. bank watchdogs to consider Volcker rule tweak

U.S. bank regulators said on Friday they would consider exempting certain complex securities from the so-called Volcker rule after community banks sued the agencies, warning of massive losses. Four agencies said they were reviewing the exclusion collateralized debt obligations backed by trust preferred securities - or TruPS-backed CDOs - from the rule, which limits banks' ownership of funds. "The accounting staffs of the agencies believe that ... any actions in January 2014 that occur before the issuance of December 31, 2013, financial reports should be considered when preparing those financial reports," the agencies said in a joint statement.



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