Volcker rule CLO postponement will go before House

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

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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