April 2, 2020

Joint Release

Board of Governors of the Federal Reserve System
Commodity Futures Trading Commission
Federal Deposit Insurance Corporation
Office of Comptroller of the Currency
Securities and Exchange Commission

Agencies Will Consider Comments on Volcker Rule Modifications Following Expiration of Comment Period

Washington, D.C. — Five federal financial regulatory agencies on Thursday announced that they will consider comments submitted before May 1, 2020, on their proposal to modify the Volcker rule’s general prohibition on banking entities investing in or sponsoring hedge funds or private equity funds—known as “covered funds.”

The agencies will continue to consider comments to provide interested persons more time to analyze the issues and prepare their comments in light of potential disruptions resulting from the coronavirus.  The proposal asked for comments to be submitted by April 1, 2020. 

The agencies will continue to work together on policy issues as the coronavirus pandemic unfolds.

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Media Contacts:

Federal Reserve Board      Eric Kollig                         (202) 452-2955

CFTC                                 Office of Public Affairs      (202) 418-5080

FDIC                                  David Barr                        (202) 898-6992

OCC                                   Bryan Hubbard                 (202) 649-6870

SEC                                    Office of Public Affairs     (202) 551-4120

-CFTC-