Volcker rule CLO postponement will go before House

Bill seeks to give banks until 2019 to dispose of CLO assets

scott-garrett2
Representative Scott Garrett

Efforts by the US Congress to extend the deadline by which banks must divest themselves of collateralised loan obligations (CLOs) under the Volcker rule received a minor – and possibly meaningless – boost yesterday after the bill containing the measure was placed on the House calendar for floor consideration.

The decision bypasses a fresh round of hearings and amendments to the bill by the House Financial Services Committee, but the White House has pledged to veto the bill should it pass the

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