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Tuesday, December 17, 2013

ABA Working With Regulators on Volcker TruPs Issue

ABA is working with policymakers to seek a solution to a Volcker Rule provision related to trust preferred securities that could lead to an unexpected and precipitous capital impact on a range of community and midsize banks.

Under the rules approved last week, collateralized debt obligations that are backed by TruPs are considered “covered funds” subject to the Volcker Rule’s restrictions. The resulting accounting treatment will cause some banks to face significant capital charges.

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