WASHINGTON — Sens. Joe Manchin, D-W.Va., and Roger Wicker, R-Miss., introduced legislation Monday to address concerns about how collateralized debt obligations backed by trust-preferred securities are treated under the Volcker Rule.

The legislation would exempt community banks with less than $50 billion in assets from having to shed CDOs backed by Trups held when regulators released the Volcker Rule last month.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.